Bitcoin Crashes To $112,000 As ETH, XRP, Dogecoin Get Hit By Over $1 Billion In Long Liquidations

Cryptocurrencies are down significantly on Monday morning, with long liquidations crossing $1 billion.

Notable Statistics:

• Coinglass data shows 387,032 traders were liquidated in the past 24 hours for $1.67 billion. Long liquidations accounted for $1.59 billion.
• SoSoValue data shows net inflows of $222.6 million from spot Bitcoin ETFs on Friday. Spot Ethereum ET'Fs saw net inflows of $47.8 million.
• Crypto trader Ash Crypto noted that this is the biggest liquidation event since March, with 95% coming from long positions.

Trader Notes: Crypto chart analyst Ali Martinez noted Bitcoin dipping to $112,000, with traders now eyeing a potential right-shoulder formation that could fuel a breakout toward $130,000.

Jelle noted BTC is retesting a reclaimed level, and holding a higher low could open the path to $120,000.

Michael van de Poppe explained Ethereum's breakdown sparked a market-wide flush but sees current levels as accumulation zones ahead of the next leg higher.

Cryptoinsightuk highlighted XRP's sharp wick into thin downside liquidity likely cleared massive open interest.

Crypto Bully said Solana hit his $215 target, filling longs with a +4% bounce, and is now eyeing $235 if support holds.

Degen Hardy added Dogecoin looks to have bottomed, testing its daily trendline with a classic break-and-retest setup that could launch price higher.

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