Overview

• CoinGlass data show $1.6–$1.8 billion in liquidations over 24 hours, roughly 95% from longs, with more than 370,000 traders wiped and Ethereum posting the largest single-asset liquidations near $500 million.
• Bitcoin trades around $112,500 and Ethereum near $4,100–$4,200 as large-cap altcoins lag following the sharp derivatives-driven sell-off.
• Analysts characterize the move as a leverage-driven flush rather than a structural break, while rotation into equities and net outflows from U.S. spot bitcoin ETFs added pressure to crypto sentiment.
• CryptoQuant reports exchange inflows outweighing outflows since September 17, signaling short-term selling pressure as traders watch Bitcoin’s $112,000 area and Ethereum’s $4,100 support.
• Options researchers note increased demand for puts with muted implied volatility, and corporate treasury BitMine disclosed holdings of about 2.42 million ETH—over 2% of supply—reflecting continued institutional accumulation.