$369M Crypto Liquidation Squeezes Markets, Total Market Cap Drops

A $369 million long squeeze on September 2 led to a massive liquidation of positions among over 90,000 crypto traders. The impact was felt across various assets, including XRP, Ether, and Solana. Prices plummeted with Bitcoin falling to around $77,200-$77,600, Ether dropping to $2,410-$2,430, and Solana dipping below $100.

The total crypto market cap dropped to $2.59-$2.70 trillion as a result of the sell-off. Despite this, institutional inflows into Ethereum, Solana, and XRP ETFs remained positive, indicating ongoing long-term interest in these assets.