Altcoin News: Ether and Dogecoin Lead $1.5B Crypto Liquidation Wipeout as Bitcoin Falls Below $112K

Key Points:More than $1.5 billion in leveraged positions were liquidated in 24 hours, the biggest wipeout in months.Ether (ETH) fell 9% to $4,075, while Bitcoin (BTC) slipped nearly 3% to $111,998.Dogecoin (DOGE) led altcoin losses, plunging over 10%, with SOL, ADA, BNB, and TRX also down at least 5%.Over 407,000 traders were liquidated, underscoring extreme leverage and macro uncertainty.The crypto market suffered its largest liquidation event in months on Monday, with more than $1.5 billion in leveraged positions wiped out as Bitcoin briefly dipped below $112,000.Data from Coinglass shows that over 407,000 traders were liquidated in the past 24 hours, as excessive leverage magnified losses across major tokens.Ether and Dogecoin Lead DeclinesEthereum (ETH) bore the brunt of the sell-off, plunging as much as 9% to $4,075 after nearly $500 million in long positions were liquidated. ETH was still down around 6% over 24 hours at press time.Dogecoin (DOGE) posted the steepest drop among major tokens, sliding more than 10% to $0.238. Other large-cap altcoins followed suit, with Solana (SOL), Cardano (ADA), Binance Coin (BNB), and Tron (TRX) each tumbling at least 5% in the same period.Meanwhile, Bitcoin (BTC) fell nearly 3% to $111,998, briefly breaching a key psychological support before bouncing slightly.Liquidations Signal Market StressLiquidations occur when traders’ leveraged positions are forcibly closed due to margin shortfalls. In highly volatile markets, large-scale liquidations can exacerbate price declines and trigger cascade effects.Analysts often view massive long liquidations as signs of market stress — and occasionally, as potential bottoming signals.Macro Headwinds Weigh on CryptoThe wipeout comes against a backdrop of global economic uncertainty despite the Federal Reserve’s recent interest-rate cut.“The market’s trajectory hinges critically on upcoming economic data and Fed signals,” said Nassar Achkar, Chief Strategy Officer at CoinW. “Bitcoin’s dominance could remain intact, capping upside for Ethereum and DeFi despite their higher yields.”Investors will closely watch U.S. PMI data, jobless claims, and Fed Chair Jerome Powell’s Tuesday speech for further clues on policy direction. A dovish tone could ease pressure on altcoins, while cautious messaging may reinforce the defensive positioning now evident in crypto derivatives markets.