More than $400 million in crypto leveraged positions were wiped out in 24 hours as a broad sell-off swept through digital-asset markets. The downturn sent Bitcoin below $108,000 and dragged the total crypto market cap down 3.216% to roughly $3.6 trillion. Ethereum and most major altcoins recorded losses as traders rushed to reduce their crypto exposure and move into stablecoins.
$400 Million liquidated in past 24 hr pic.twitter.com/sPMVSxvAYX
— Max Crypto (@MaxCryptoxx) November 3, 2025
Over 162,000 long traders were forced out of positions, marking one of the largest liquidation events in weeks. Ethereum accounted for the biggest share with $112.8 million in long positions cleared, followed by Bitcoin at $96.9 million. The cascade gathered momentum as Bitcoin lost key support near $110,000, triggering stop-loss orders across derivatives platforms.
Whale Activity Amplifies Selling
On-chain data pointed to renewed sell pressure from large holders. Addresses tied to long-term investors moved about 13,000 BTC, valued at roughly $1.48 billion, to exchanges since early October, according to analytics firm Arkham.
One wallet linked to investor Owen Gunden transferred more than 3,200 BTC to Kraken in late October, a sign of potential profit-taking. The flows coincided with a 5.2% decline in Ethereum futures open interest, deepening the liquidation spiral.
Market capitalization slipped below the 30-day moving average of $3.74 trillion, while the relative strength index at 40.9 suggested momentum remained weak but not yet oversold.
Altcoins Lead the Crypto Market Decline
The sell-off spread rapidly through smaller tokens. The top 50 altcoins lost about 4% on average, pushing Bitcoin’s dominance above 60%. Solana, Aster, and DOGE dropped between 5% and 8% as traders unwound leveraged bets. The decline reflected a broad contraction in liquidity, with derivatives volumes shrinking across major venues.
The decline came days after Federal Reserve Chair Jerome Powell signaled that a December rate cut was “not a foregone conclusion,” prompting a rebound in the dollar and a sell-off in risk assets. Treasury Secretary Scott Bessent’s remarks on limited policy flexibility reinforced the cautious tone, trimming the market-implied probability of a rate reduction to 69%.
The CoinRemark Team
Brenda Kanana
