Bitcoin Plunges to $112K, Wiping Out $1.7 Billion in Liquidations

Bitcoin’s price suddenly suffered a violent flash crash, plunging to $112,000 – its lowest level since September 10 – in less than an hour.

Market data shows that liquidations skyrocketed from around $600 million earlier in the day to $1.7 billion at press time, highlighting the extreme volatility.

Most altcoins also sank deep into the red, posting losses between 4% and 8%. ETH and XRP led the declines among large-cap tokens, while CRO and HYPE faced heavy pressure, dropping 7–8%.

Before the crash, Bitcoin was trading relatively steadily around $114,500, down just 1% on the day. However, the situation flipped dramatically when the world’s largest cryptocurrency plunged to $112,000, erasing more than $5,500 from Sunday’s level of around $115,600.

ETH also tumbled below $4,050 before recovering slightly to around $4,200. Meanwhile, the derivatives market saw more than 400,000 traders liquidated over the past 24 hours. Notably, the single largest liquidation was worth nearly $13 million.

Data indicates ETH remains at the top of the liquidation charts with more than $470 million, reflecting the mounting tension across the cryptocurrency market.