ETH, SOL, DOGE price news: Tokens drop 6% as weekend liquidations hit crypto majors
Major cryptocurrencies like ETH, SOL, and DOGE fell sharply as over $974 million in bullish bets were liquidated over the weekend.Summary
Cryptocurrency markets experienced a significant weekend slide, with major tokens extending losses as a wave of long liquidations swept through futures markets, indicating stress beyond Bitcoin. Ether (ETH) suffered the most, with approximately $385 million liquidated, followed by Bitcoin ($188 million), Solana (SOL), and XRP (both over $45 million). Data shows the selloff was overwhelmingly driven by the forced closure of long positions, suggesting traders were overly optimistic after weeks of range-bound trading. In total, about $974 million was wiped out in 24 hours, forcing over 240,000 traders out of their positions. The pressure caused Bitcoin to slip toward the low-$80,000 range and ETH to break key short-term levels. The move is characterized as a mechanical reset due to thinner weekend liquidity and fading risk appetite, rather than outright panic.
(Source：CoinDesk)