Crypto markets extended a weekend selloff that hit major tokens and high-beta altcoins, with Ether, Solana and Dogecoin each falling about 7%. The move coincided with a wave of futures liquidations that included roughly $850 million of bullish bets being knocked out, while Ether bore the heaviest losses with roughly $385 million liquidated over 24 hours.
Crypto Market Selloff Triggers $850M in Liquidations
The rout wiped out a large number of leveraged positions across assets, with Bitcoin following behind Ether and seeing roughly $188 million in liquidations. Solana and XRP each suffered more than $45 million in forced exits, and dozens of smaller tokens were swept up as liquidation engines fired across exchanges. Taken together, about $974 million was wiped out in the past 24 hours, and more than 240,000 traders were forced out of positions.
One-Sided Liquidation Pressure
Liquidation records show the selloff was heavily one-sided: the vast majority of forced exits came from long positions, while short liquidations were minimal. That imbalance reflects traders being caught on the same side after weeks of range-bound price action and repeated attempts to buy dips, and it amplified moves as leverage unwound. For more detail on similar forced exits, see shorts and liquidations in previous episodes.
Tokenized Commodities Join Crypto Selloff
The damage was not confined to native crypto tokens: blockchain-based silver contracts posted unusually large liquidations relative to their size, highlighting that tokenized metals traded on crypto venues can behave like macro trading rails during stress. The presence of metals alongside bitcoin and ether signals how trading flows on crypto platforms can span both digital assets and tokenized commodities when leverage is involved.
Price Action Reflects Market Reset
Price moves across majors reflected the liquidation pressure: bitcoin slipped toward the low-$80,000 area and ether broke key short-term levels, while altcoins fell faster than the majors. Thinner liquidity over the weekend and fading risk appetite made the move look like a mechanical reset driven by leverage cycles rather than a single panic event, leaving the path forward dependent on how quickly leverage rebuilds once markets normalize.
Why this matters
If you run mining hardware in Russia—whether one machine or hundreds—this selloff matters mainly because it affects the fiat value of mined coins and the liquidity environment on exchanges. Sharp liquidations can cause rapid price swings that change the ruble-denominated value of payouts, and they can temporarily reduce on-exchange liquidity, making large trades move prices more than usual.
At the same time, the event does not directly change the operational side of mining (hashrate, hardware efficiency, or block rewards), but it does influence when and how you convert mined coins to cash. For background on related exchange liquidations and price drivers, see Bitcoin liquidations and why bitcoin and ether fell.
What to do?
Keep actions simple and focused on preserving capital and operational continuity. First, track your revenue in both crypto and rubles so you understand how price swings affect cash flow, and avoid relying on margin or leverage tied to mined holdings if you cannot tolerate forced exits. Second, stagger sales or set pre-defined sell thresholds to avoid dumping during sharp moves, and use exchanges you trust for execution and withdrawal speed.
- Monitor exchange liquidity and major liquidation reports to time larger conversions.
- Keep a buffer of fiat to cover operating costs while prices are volatile.
- Avoid taking leveraged positions against mined coins unless you fully understand liquidation risk.
