Crypto Traders Crushed as Long Positions Are Vaporized in Market Freefall

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Oh, what a day for the crypto world! It’s as if the market decided to throw a tantrum, tumbling down in perfect harmony with U.S. equities on Monday, Dec. 1, 2025. Bitcoin, the crown jewel of digital assets, slid more than 7.5% and reached a low of $83,814 per coin. Naturally, the rest of the market followed suit, with altcoins taking a beating of their own.

Crypto Suffers a Brutal Reset With Nearly $1B in Derivatives Positions Wiped out in Hours

Reports suggest that traders, looking as if they’ve lost the will to live, have hit the pause button ahead of the upcoming speech from U.S. Federal Reserve Chairman Jerome Powell. They’re parked on the sidelines like passive spectators at a train wreck, waiting for the next round of uncertainty to roll in.

The digital currency market is getting absolutely pummeled, sitting at a measly $2.83 trillion after plummeting 7.97% in just 24 hours. Bitcoin ( BTC) is down 7.5%, and ethereum ( ETH) isn’t having much of a party either, losing 9.6% in the same period.

And let’s not forget about those poor altcoins. BTC’s downward spiral dragged everything into the abyss, like a sinking ship dragging the life rafts down with it. The biggest loser of the day? The privacy coin Decred (DCR), which nosedived a dramatic 20.35%, while Zcash (ZEC) followed suit, slipping around 19.74%. Talk about a bad hair day.

Meme token mog coin (MOG) lost a substantial 18.92%, and Brett (BRETT) wasn’t far behind, surrendering 18.4% on Monday. Plasma (XPL) dipped 17.89%, spx6900 (SPX) followed with a 17.76% drop, and Pump Fun (PUMP) didn’t have much fun either, crashing 17.03%. And let’s not even mention SNEK, ZORA, EIGEN, NPC, IP, ASTER, and FTT, who also decided to fall between 15.36% and 16.33% over the 24-hour period.

Among the top ten major coins, XRP took a 9.5% hit, BNB matched that with a 9.5% decline, SOL dropped more than 11%, TRX had a modest dip of 1.27%, and DOGE? Well, it’s down 11.6%. As for ADA, it’s battling with a 12.3% drop, BCH absorbed an 8.2% blow, and HYPE saw a 11.2% dip.

The madness has triggered massive liquidations across derivatives markets, with wipeouts nearing the $1 billion mark by noon EST. Coinglass.com data shows that $866.8 million of that carnage came from crypto long positions, including a hefty $358 million in BTC longs.

So, here we are, stuck in the middle of a chaotic crypto freefall, with sharp losses cascading across majors, altcoins, and derivatives alike. Nearly $1 billion in liquidations is a sign of just how intense the crash was, leaving traders frozen in terror, and volatility running rampant. With investors anxiously awaiting Powell’s upcoming address, the market is bracing itself for whatever comes next in this roller-coaster week.

FAQ ❓

  • Why did the crypto market drop today?
    The market took a nosedive after Bitcoin dragged everything down with it, setting off a chain reaction of panic selling fueled by macro uncertainty.
  • How much was liquidated during the crash?
    Nearly $1 billion in crypto positions vanished into thin air, mostly from long holders who are now wondering where their money went.
  • Which altcoins were hit the hardest?
    Decred, Zcash, MOG, BRETT, and a host of other niche tokens saw the steepest losses. It was like the market had a vendetta against them.
  • What are investors watching next?
    Traders are eagerly awaiting Jerome Powell’s remarks to try and figure out whether this is the beginning of a total collapse or just a temporary hiccup.

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2025-12-01 20:55