Crypto Carnage: $6B Liquidated, BTC and ETH Plunge in Brutal Week

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The crypto market lost $240 billion this week as bitcoin, ethereum, and XRP posted steep declines.

Bitcoin Leads Downturn

The crypto world just got hit with another dose of chaos, and if you thought last week’s madness was bad, well, hold on to your wallets. Total market cap fell from $4.12 trillion to a humble $3.88 trillion-because why not? Bitcoin, the digital kingpin, led the way with a drop from $115,700 to a meek $109,500 by Sept. 27 at 1:30 p.m. EST. Talk about a 5.5% loss that had all the traders running for cover like scared rabbits. 🐇💸

Ethereum ( ETH) started the week with a decent above-$4,400 price, only to take a nosedive and land at $3,992. First time below $4,000 since August-so, not a good look, right? Even the typically bullish news about Bitmine stocking up on ETH couldn’t halt the plunge. ETH tried to climb back up, but the selling wave was too much-sinking to $3,846 on Sept. 25. Ouch. 🔻

Now, let’s talk about XRP. Still sulking since its all-time high of $3.66 back in July, XRP ended the week down nearly 7%, hovering just below $2.79. Analysts had hopes for a rally, but looks like they’re holding their breath for something that may never happen. On the plus side, this drop helped stablecoin USDT solidify its spot as the third-largest digital asset. No applause here, folks, just another Tuesday. 🙄💵

Altcoin Losses and Outliers

BNB, which hit a high of $1,079 on Sept. 21, was dragged down by the broader market drop, finishing the week at $968. A modest 5.3% loss, but hey, who’s counting when the whole ship is sinking, right? Several altcoins were even less lucky, with SOL down 16%, DOGE down 14%, and ADA seeing a brutal 12.8% drop. Even HYPE took a beating-down 18.1%. But wait, there’s more! A couple of outliers, like ASTER and MYX, managed to buck the trend and posted gains of 59.4% and 32.4%, respectively. 🎉 Go team outlier!

And for the traders who thought they could play it cool with leveraged positions, the week was a bloodbath. Imagine waking up to see $1.7 billion in long and short positions wiped out on Sept. 22-literally the largest single-day liquidation of 2025. Three days later? Another $1 billion vaporized. It’s like watching a house of cards tumble down in slow motion. 😱

By the time the dust settled, over $6 billion in leveraged positions were liquidated across the week. And of course, long contracts took the hardest hit. So, if you’re holding onto a leveraged position right now, may the crypto gods be with you. You’re gonna need them. 😬💀

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2025-09-28 01:15