Bitcoin News Today: Bitcoin Plummets to 11-Day Low Amid $450M Liquidations and Geopolitical Jitters

Bitcoin’s price plummeted to an 11-day low on Monday, slipping below $115,000 amid a wave of market turbulence. The sharp sell-off led to nearly $500 million in liquidations, with CoinGlass reporting that over $450 million in positions had been closed within the day. The selloff accelerated as US futures markets reopened for the week and Asian trading hours began, triggering widespread panic among leveraged long traders, who accounted for the majority of the liquidations. More than 115,000 traders were reportedly affected, underscoring the fragility of highly leveraged positions in a volatile market [1].

The decline came after weeks of strong price momentum, raising questions about whether the recent rally had created overbought conditions. Unlike typical market corrections, this downturn was rapid and unrelenting, with Bitcoin shedding over $3,000 in value within a short span. The move pushed the broader market into a downward spiral, with Ethereum (ETH) dropping below $4,300, XRP testing critical support near $3, and Solana (SOL) and Dogecoin (DOGE) each declining by 4–5%. While most major altcoins mirrored Bitcoin’s decline, Chainlink (LINK) bucked the trend, posting a daily gain of 5% [1].

The sell-off also coincided with renewed geopolitical uncertainty. On Saturday, former US President Donald Trump and Russian President Vladimir Putin failed to announce a clear path to ending the Ukraine-Russia conflict, though Trump later claimed “big progress on Russia.” The following day, Trump added that Ukraine’s President Volodymyr Zelenskyy had the power to end the war immediately if he chose to do so. These statements contributed to a broader sense of unease, affecting risk-sensitive assets like Bitcoin and altcoins. However, it remains unclear how directly these geopolitical developments influenced the market’s sharp move lower [1].

From a technical standpoint, the $115,000 level represents a key support zone, and the fact that Bitcoin has managed to hold that level for now offers some short-term relief. Market participants are now closely watching whether the price can stabilize above this threshold or if further downside could follow. With leverage-heavy positions continuing to unwind, the risk of a self-reinforcing downward spiral remains high. On-chain data and exchange volume metrics will likely be key indicators in determining the next phase of the market’s direction [2].

The liquidation data from CoinGlass underscores the severity of the event, highlighting the growing risks associated with leveraged trading in a market prone to rapid reversals. The coordinated decline across both Bitcoin and altcoins also reflects the tight correlation between the leading asset and the broader cryptocurrency market. As traders reassess their exposure, the coming days will be critical in determining whether the market can find a floor or if additional selling pressure will emerge [1].

Source: [1] Bitcoin Tanks to 11-Day Low as Nearly $500M Liquidations Sweep the Market (https://cryptopotato.com/bitcoin-tanks-to-11-day-low-as-nearly-500m-liquidations-sweep-the-market/)

[2] Bitcoin (BTC) Price Analysis - Daily Updates (https://cryptopotato.com/bitcoin-price-analysis/)