Monday was not kind to crypto holders. The market downturn that's been brewing picked up steam, sending major cryptocurrencies tumbling through key support levels that traders had been watching nervously.
Here's where things stood as the carnage unfolded:
| Cryptocurrency | Ticker | Price |
| Bitcoin | (CRYPTO: BTC) | $91,746 |
| Ethereum | (CRYPTO: ETH) | $2,984 |
| Solana | (CRYPTO: SOL) | $129.8 |
| XRP | (CRYPTO: XRP) | $2.12 |
| Dogecoin | (CRYPTO: DOGE) | $0.1539 |
| Shiba Inu | (CRYPTO: SHIB) | $0.058658 |
The Damage Report
The numbers tell a brutal story. Coinglass data shows 140,927 traders were liquidated in the past 24 hours for a staggering $725.72 million. When leverage cuts both ways, it really cuts. In the past day alone, top losers included Decred, Dash and Pump.fun.
What's Happening Behind the Scenes
While prices tumbled, several developments emerged from the crypto world. Tom Lee remained adamant that the crypto cycle top is still 12-36 months away, even as BMNR dropped 6%. Meanwhile, reports suggest Japan is mulling crypto reforms that would allow bank distribution and cut tax rates.
The broader context is sobering: Bitcoin, Ethereum, and XRP have wiped out $1.1 trillion since BTC hit $126,000. That's a lot of wealth evaporated.
On a brighter note, Harvard University increased its Bitcoin IBIT stake by 257% in Q3, which one observer called "as good a validation as an ETF can get."
What the Charts Are Saying
Crypto chart analyst Ali Martinez highlighted that Bitcoin's SuperTrend indicator has flipped to a Sell signal—the same setup that preceded a 67% drawdown in the past. That's the kind of historical parallel that makes traders nervous.
Daan Crypto Trades pointed out that Bitcoin still has a CME gap near $91,500 and noted that the $90,000 zone for BTC and $2,800 for ETH have consistently acted as key support/resistance levels over the past year.
Nebraskangooner called last week's Bitcoin weekly close "ugly," suggesting a likely retest of the $85,000 support after losing the $102,000 level. He added that maybe next time Michael Saylor should wait to buy at support instead of chasing resistance. Ouch.
Altcoin Sherpa noted that the previous two major BTC pullbacks were roughly 32% from the highs, which would again place Bitcoin around $85,000 if history repeats. He emphasized that nothing is structurally broken yet, but traders should take things day by day. In crypto, that's probably good advice regardless of market conditions.