Crypto Drama: Altcoins Ditch $600 Million in Liquidations! 🍿

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Oh, how delightful! The cryptocurrency market, which had been behaving quite well over the weekend, has decided to throw a tantrum on Monday morning. And guess what? The altcoins are absolutely leading the charge, as if they’ve been told they weren’t getting enough attention. How charming.

Bitcoin, ever the composed one, has also taken a little dip, but in a most dignified manner. It’s almost as if it’s saying, “You know what? I’ll just sit this one out while you all squabble.” And with that, Bitcoin’s dominance in the market has only grown. Bravo, dear Bitcoin, truly.

The chart here gives us an almost tragic tale. The grandest altcoins are suffering like the drama queens they are. ETH, once so promising, has fallen to a weekly low under $4,300. It was rejected-twice-at $4,700 in September. Poor dear ETH. It tried to rally, but alas, the bull run seems as far away as ever.

As for XRP, well, it lost that all-important $3 support level during the weekend, and things haven’t exactly improved since. There were so many promises of price surges, but alas, it’s down 4% and hovering just below $2.9. Not quite the magical unicorn ride to $3.65 everyone had hoped for. How disappointing.

The real stars of the show, however, are the likes of ADA, LINK, DOGE, HYPE, and CRO, who’ve experienced rather dramatic declines. HYPE has plunged by 8%, mostly because Arthur Hayes decided to sell off his shares-truly, the drama of it all. CRO, in turn, dropped by 9%, courtesy of some rather unpleasant reports about a data breach at the exchange behind it. Oh, the drama just never ends.

Of course, there are a few shining stars, like IP, which are still in the green. But, much like the rare unicorn, these exceptions are few and far between. Most of the mid- and lower-cap altcoins are down by alarming percentages. It’s almost as if they all decided to take a plunge just to see what would happen.

In total, the market cap has lost another $60 billion in a single day. Yes, that’s a solid amount. The grand total? A mere $4.060 trillion. Truly, such a spectacular display of financial chaos.

Meanwhile, Bitcoin, ever the dignified participant, sees its dominance rise to a modest 56% as it drops by a mere 1%. Bravo, Bitcoin, bravo.

And now, the pièce de rÊsistance: more than $630 million worth of positions have been liquidated daily, according to CoinGlass. Over 220,000 traders have been caught in the frenzy. ETH, ever the leader in this tragedy, accounts for over $184 million of that total. What a grand finale!

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2025-09-22 08:42