Over 180,000 Liquidations! Crypto Market Crashes as BTC Falls Below $115,000

TradingKey – With no fresh bullish catalysts, the crypto market undergoes a broad correction, triggering massive long-position liquidations.

On Monday, September 22, cryptocurrencies plunged across the board, wiping out over $200 billion in market value and briefly dipping below the $4 trillion mark. 

Bitcoin (BTC) continued its downward move, falling more than 1% and breaking below $115,000. Ethereum (ETH) and Solana (SOL) dropped over 3%, while Ripple (XRP) and Binance Coin (BNB) both declined more than 2%.

[Top 10 Crypto Price Changes – Source: CoinMarketCap]

The widespread selloff led to a wave of liquidations, particularly among leveraged long positions. In the past 24 hours, more than 180,000 traders were liquidated, totaling over $500 million in losses. Long positions accounted for $400 million—an overwhelming 85% of the total.

[Crypto Market Liquidation Data – Source: Coinglass]

Despite the sharp decline, there was no major negative news event. The downturn appears driven by a lack of new bullish momentum and short-term profit-taking. However, two potential catalysts remain on the horizon: a possible Fed rate cut in October and the SEC’s pending approval of spot ETFs for altcoins.