Heavy Liquidations Hit Bitcoin, Ethereum, Solana, and XRP - November 26, 2025, 11:00 AM IST
Bitcoin drops 7.5% to $86K with $1.8B volume, Ethereum falls to $2.8K, Solana and XRP extend losses as November’s $2B liquidation wave and Fed rate fears keep crypto under pressure.
A brutal November liquidation wave continues to weigh on majors, with prices sliding further even as funding and structural flows hint at de‑leveraging rather than fresh panic.
- Bitcoin sinks 7.5% to $86,000 on very high volume of $1.8B (+31.9%), with funding mildly positive at 0.33%, showing reduced but still present long leverage. Price action lines up with this month’s cascade that erased nearly a third from October’s peak and wiped out around $2B in leveraged positions as Fed cut hopes faded and U.S. trading hours drove most of the drawdown.
- Ethereum drops 7.81% to $2,800 on $658.13M in volume (-3.95%), funding at 0.04% as ETH tracks Bitcoin’s selloff and sits near levels highlighted in recent downside analyses around ∼$2,800∼$2,800. ETF outflows and stalled DeFi risk appetite keep upside capped in the short term.
- Solana falls 8.27% to $132.48, with volume up 31.28% to $404.24M and funding elevated at 1.51%, signaling that leverage is still active even as price revisits the $130 support zone noted in recent technical reviews. This follows earlier swings where SOL briefly reclaimed $140 before renewed selling and alt‑wide liquidations.
- XRP slides 7.56% to $1.982 on $355.85M in volume (+20.63%), funding at a punchy 1.01%. XRP has been steadily pressured since mid‑month after breaking below $2.20, even as ETF narratives and strong year‑on‑year gains kept it a relative outperformer versus Bitcoin and Ethereum over the last 12 months.
Market Insights
- November’s correction is being driven primarily by a sharp macro shift: fading expectations of near‑term Fed rate cuts and stalled ETF inflows, which triggered a fast unwind of crowded long positions in Bitcoin and major altcoins.
- On‑chain and derivatives data show funding compressing from extreme highs and open interest dropping, which suggests forced de‑leveraging may be closer to the late stage of this move rather than its start, though a break of key supports (e.g., $75K on Bitcoin) could still unleash another liquidation wave.
- Altcoin ETFs for Solana and XRP continue to attract capital even into weakness, indicating structural demand, but in the near term that flow competes with broader risk‑off selling and profit‑taking.
LuwakTech analytics track this de‑leveraging cycle in real time, across volume, funding, and ETF flows, helping traders distinguish between capitulation, dead‑cat bounces, and genuine bottom‑formation during November’s volatile reset.
