Crypto Market Liquidations: $600M Swings as BTC & ETH Decline

Major cryptocurrencies experienced a notable downturn on December 1, 2025, with liquidity tightening and leveraged positions unwinding. Cryptowave, an X account (@cryptsnews) known for its commentary and reporting on cryptocurrency markets, provided early alerts of the event. The post noted significant losses in Bitcoin, Ethereum, Binance Coin (BNB), and XRP as liquidity reduced. Cryptowave estimated that nearly $600 million was liquidated across various exchanges.