Dash Drops 9% Amid Broad Crypto Liquidation Event: Market-Wide Correction Hits Altcoins
The cryptocurrency market experienced a broad leveraged correction on September 23, 2026, which led to a sharp drop in Dash's price. According to CoinMarketCap, Dash (DASH) dropped around 9% in 24 hours and 4.4 percentage points within the same time frame. This drop is attributed to a market-wide liquidation event that hit altcoins harder than BTC.
The correction was triggered by forced long liquidations across the market, with around $425 million in leveraged long positions being wiped out as prices fell. The analysis showed a '3,049% liquidation imbalance' where long buyers lost the majority of roughly $505 million in liquidations, mainly on BTC, ETH, and other majors.
Dash's behavior fits this pattern, with its price moving from the low 60s to the high 50s within 24 hours. The dominant driver of Dash's drop is not unique to the asset but a system-wide flush of over-leveraged longs that tends to hit older, mid-cap altcoins with thinner liquidity harder than BTC.
Before the drop, Dash had rallied and was being actively traded on short-term technical setups, priming it for a sharper reversal. Social trading accounts on X were calling DASH a bullish breakout, highlighting its potential to reach higher targets.