Bitcoin Price Crashes Below $112K as $1.7 Billion in Longs Get Liquidated

Bitcoin (BTC) tumbled to $111,760 during Monday’s early Asian trading hours, triggering liquidations worth over $1.7 billion across the cryptocurrency market. The sudden decline wiped out more than $77 billion in total market capitalization, underscoring the fragile sentiment around digital assets.

The selloff was intensified by thin liquidity over the weekend, when trading volumes tend to dip. Within just 20 minutes, over $1 billion in Bitcoin longs were liquidated, marking one of the largest single-session washouts in recent months.

BTC now hovers just above a key support zone near $110,000, a level closely watched by traders. A sustained break below could open the door to further losses, while a bounce above $115,500 may revive bullish momentum.

Altcoins Slump as Risk Appetite Fades

The decline was not limited to the Bitcoin price. Major altcoins also suffered steep losses, with Ethereum (ETH) dropping nearly 10% to hit a one-month low. Ripple (XRP) slipped 8%, while Solana (SOL) and Cardano (ADA) fell by more than 7%. Meme coins like Dogecoin (DOGE) were hit even harder, plunging over 12% in 24 hours.

This broad-based decline reflects a retreat from riskier assets as investors assess global macroeconomic headwinds. Uncertainty over U.S. monetary policy, combined with fresh regulatory scrutiny, has dampened appetite for high-volatility cryptocurrencies.

Outlook: Will Bitcoin Price Rebound or Fall Further?

Despite the crash, some on-chain indicators suggest reduced selling pressure. Data from CryptoQuant shows that Bitcoin deposits into exchanges have dropped to their lowest levels in over a year, signaling that large holders are not rushing to sell. Meanwhile, retail investors continue accumulating small amounts of BTC, hinting at cautious optimism.

Market analysts remain divided. Bulls point to strong institutional inflows earlier this year and Bitcoin’s history of recovering after September downturns. Bears, however, highlight bearish technical indicators, including a daily Relative Strength Index (RSI) slipping below 50.

Ultimately, Bitcoin’s next move will likely be shaped by macroeconomic events, particularly commentary from Federal Reserve officials and upcoming inflation data. If Bitcoin can defend its $110,000 support zone, a rally back toward $120,000 remains possible. But a decisive breakdown could trigger deeper selling across the market.