BTC, ETH, XRP Crash Again as Liquidation Wave Hits $1B

Brief

By Dextape Desk · November 9, 2026

Bitcoin fell to $73,500 on Monday, its weakest point since the rally that started in mid-August. Ether came very close to dropping under $2,000, the first time since mid-August, and later sank below $2,100. XRP traded at $1.09 at press time after touching $1.06, and PI reached a record low. Bitcoin recovered some lost ground but was still under $74,500. The piece ties the slide to a rough November that followed heavy October losses and a major Binance hack. Data from CoinGlass indicates that over 155,000 traders who had borrowed heavily were wiped out in the past 24 hours. Total liquidations passed $1 billion, and more than $930 million of that came from long positions. Ether longs alone accounted for $455 million. The largest single wipeout, close to $50 million, involved ether and occurred on Binance.

Why it matters: Large forced position closures, mostly on long bets, show how borrowed money can amplify losses for traders across major cryptocurrencies.

Mentioned: Bitcoin, Ethereum, XRP, Binance

Summary by Dextape, based on reporting by CryptoPotato. Machine-written from CryptoPotato’s report and checked against it · How Dextape writes