Bearish bets on major tokens lost nearly $ 600 million on Sunday when dealers were caught offside following President Donald Trump’s announcement of a US strategic reserve for more symbols.
Sundays are typically marked with relatively lower liquidity, which creates unusually high price jump as it requires relatively less money to move assets. Cardanos Ada rose 60% in the last 24 hours, with XRP and Solana’s sun up 25% and Bitcoin (BTC) higher by 9%.
BTC-tracked futures took over over $ 344 million in losses across long and shorts, leading losses on the market, followed by $ 170 million in liquidation on one-track futures.
Futures Tracking of ADA, XRP and Sun recorded over $ 70 million in liquidation each, their highest such levels since September 2024, Coinglass Data shows.
Liquidations occur when a stock exchange with force closes a trader’s geared position due to a partial or total loss of the trader’s original margin. It happens when a trader is unable to meet the margin collar for a geared position, that is, they do not have enough means to keep the trade open.
Unusually high liquidation can be used in confluence with other market indicators in trading strategies. Assets can be considered as overrun and mature for a reversing or profit-recording what makes it an opposite data set to look for.
As such, open interest (or the amount of troubled futures has risen as much as 40% higher for XRP, ADA, and sun when dealers expect volatility to continue further.
Bitcoin (BTC) zoomed in for over $ 93,000 in the early Asian hours on Monday and turned part of losses from last week as it dropped to as low as $ 83,500 on macroeconomic headwinds such as US customs and strength in garden assets and gold.
Some expected the largest cryptocurrency to fall to mid -$ 70,000 price levels, with a shock in short trades and open interest with a bias to the disadvantage.
But Trump’s comments have brought back bullish expectations, at least in the short term, although dealers remain cautious with a continuous rally until the reverse plans are more concrete. As such, the BTC for the $ 100,000 level plays back in demand, like a Coindesk analysis noticed earlier Monday.
