Crypto Tumbles: Bitcoin Drops 5.85% as $870M in Leverage Gets Wiped Out

Crypto is taking a beating. Bitcoin is down 5.85%, Ethereum has shed 7.45%, XRP is off 4.95% and Solana has dropped 6.20%, according to a post from @WatcherGuru on X. The selloff hit the biggest names in the market at once, leaving few places to hide.

The wreckage from leverage is the real story. More than $870 million in leveraged crypto positions were liquidated in the past four hours, per @WatcherGuru. That means traders who borrowed to amplify their bets got forced out as prices slid, and forced selling tends to feed on itself.

Ethereum is the weakest of the four majors in this move, down 7.45%, while XRP is holding up comparatively better at 4.95% lower. Solana sits in between, down 6.20%. Bitcoin, still the market's anchor, gave up 5.85%.

No specific trigger was cited in the report. What's clear is the speed: roughly $870 million of positions gone in a single four-hour window signals a sharp, concentrated unwind rather than a slow bleed.

For now, the numbers tell the story. Traders will be watching whether the liquidation cascade cools off or drags the majors lower still.