Cryptocurrencies Sink as $1.5 Billion in Bullish Bets Wiped Out

[BumRushDaShow]

Source: Bloomberg

September 22, 2025 at 3:01 AM EDT
Updated on September 22, 2025 at 6:20 AM EDT


Cryptocurrency traders saw more than $1.5 billion in bullish wagers liquidated on Monday, triggering a sharp selloff that sent Ether and other tokens plunging.

Ether fell as much as 9% to $4,075 as nearly half a billion dollars of leveraged long positions in the second-largest token were liquidated according to data from Coinglass. Bitcoin declined 3% to $111,998 at one point. Coins like Solana, Algorand and Avalanche also dropped.

It was the biggest wave of liquidations across cryptocurrencies since at least March 27, the Coinglass data show.

Demand from publicly-listed vehicles set up to hoard tokens helped drive Bitcoin and Ether to all-time highs in August. That momentum has started to fade as shares of digital-asset treasury firms ranging from Michael Saylor’s Strategy to Japan’s Metaplanet Inc. retreated.

Read more: https://www.bloomberg.com/news/articles/2025-09-22/cryptocurrencies-sink-as-1-5-billion-in-bullish-bets-wiped-out?srnd=homepage-americas

[Hugin]

1. Ugh, this will ripple through the real markets...

For real stuff and services. There’ll be some sort of misguided 100 cents on the Dollar bailout and stagflation will march on.

[Lovie777]

2. Apparently selling and cashing in................

what about the dollar?

[DFW]

12. The dollar lost a little ground today, but not much

The euro started the day at $1.1735 and is currently at about $1.1795

Gold jumped $50 from $3695 to $3745, which is over 1% in a day. THAT is a jump, but traditionally, it pulls back a little during profit-taking. Watch the next couple of days to see if the rally has staying power.

[Lonestarblue]

3. Crypto, especially with Trump and his buddies, is a huge Ponzi scheme.

Eventually, they do fail.

[Martin68]

8. The only difference is that Ponzi schemes are based on actual money or goods.

[BlueWavePsych]

4. Only the beginning ...

[FakeNoose]

5. Great cartoon ... it's a newer version of this one one

[DFW]

13. The lemmings were graphically portrayed in "Ghost Donald In The Sky" (One Fish Filet! Big Mac to Go!)

[republianmushroom]

6. Just a little fleecing of the sheep ?

[Martin68]

7. They've been warned. I'd be more likely to invest in tulips than cryptocurrency.

I trust Paul Krugman to explain economic issues, and he calls cryptocurrency a total fraud. Nobody buys anything legal with cryptocurrency.

[groundloop]

9. I never could figure out what purpose crypto served..... this has been my opinion of it all along also

Unless someone can convince me otherwise I'm a total skeptic of crypto, and am of the opinion that it's only purpose is for money laundering and other nefarious payments.

[BonnieJW]

11. Me too

It's a concept with nothing solid backing it up.

[Martin68]

15. As an investment, it's just a scam, pure and simple.

[RandiFan1290]

10. I just used my Coinbase card to buy lunch at Wawa.

Nothing illegal at all.

[hunter]

14. Did any cryptocoins actually change hands in this transaction?

Or did Coinbase simply use dollars from another Coinbase user to pay for your lunch?

What you've got here is a bank that treats cryptocurrency as an asset based entirely upon *your* faith.

Personally, I don't have any faith in these magic numbers that are produced at great environmental cost in the cryptocurrency "mines."

The money I have in my credit union is anchored in home and automobile loans. I have faith that borrowers will repay these loans because they don't want to lose their homes or automobiles. I don't have any faith in these supposedly magic numbers that cryptocurrencies are based upon.

If cryptocurrency markets collapse of their own absurdity, or are banned by governments as a threat to the common good, I won't be sad.

[RandiFan1290]

16. Yes, I used some of the Bitcoin I've bought over the past 10 years.

I am not asking anyone to buy or trust crypto,
I was just pointing out that there was nothing "illegal" about my purchase.