Overview

• On Sept. 22 roughly $1.5 billion in leveraged long positions were liquidated across major tokens including Bitcoin and Ethereum.
• It was the largest crypto liquidation event in more than six months, according to the reporting.
• Profit-taking that followed the Federal Reserve’s Sept. 17 rate cut likely fed the drop, according to analysts cited in the article.
• Thin liquidity between Sunday night and Monday morning in the U.S. amplified the price swings during the cascade.
• The wave of forced selling triggered stop-losses and broke key technical levels, with Bitcoin breaching $115,000 and remaining below that level as of publication.