Over $400 Million Liquidated as Bitcoin (BTC) Price Slumped to Weekly Lows Under $41K

Bitcoin was trading steady at around $44,000 before the bears took control over the market and initiated a massive dump that drove the asset to a weekly low of just under $41,000.

With most altcoins in a similar freefall state, the total value of liquidated positions has skyrocketed to over $400 million on a daily scale.

CryptoPotato reported over the weekend that BTC remained relatively calm at around $44,000 following the bullish business week, in which the cryptocurrency soared by more than 11%.

This resulted in tapping $44,700 at the end of the week, which became its highest price tag in over a year and a half.

However, Monday morning started on a negative note with a massive price dump that drove the largest cryptocurrency south hard. In a matter of an hour, BTC slumped from around $44,000 to just under $41,000 (on Bitstamp) to register a weekly low.

It has recovered some ground and currently trades above $42,000. However, this has only harmed over-leveraged traders as the total value of liquidated positions has soared to more than $400 million on a 24-hour scale.

The number stands at $360 million in the past 12 hours. In total, 120,000 traders have been liquidated within the past day, and the single largest wrecked position was worth over $8 million and took place on OKX.

You may also like:

• Crypto Channels’ Viewership Slumps to Levels Not Seen Since 2021
• Bitcoin Poised for Short-Term Rally as Price Dips Below $101K Miner Cost, Says Analyst
• Do Bitcoin and Altcoins Have the Most Room for Growth in 2026?

The altcoins are in no better shape, as Ripple, Cardano, Polkadot, Chainlink, Shiba Inu, and many others have dumped by over 6% in a day. Avalanche is the only larger-cap alts sitting in the green now.