Bitcoin Slides 5% in Sudden Weekend Crash

A Sudden Weekend Collapse Shakes the Market

Bitcoin’s weekend calm shattered in dramatic fashion as the world’s largest cryptocurrency plunged nearly 5%, crashing from $91,500 to $86,950 in only a few hours. The move marked Bitcoin’s worst November performance since 2018, dragging the asset deeper into a shaky market structure that analysts say has been building for weeks. The drop hit traders fast, triggering a cascade of forced liquidations across exchanges and sending market sentiment sharply lower.

According to data from Coinbase and TradingView, Bitcoin appeared to be consolidating in the $91,000–$92,000 range throughout the weekend before a sharp wave of sell pressure “pulled the floor” out from under the price. Trading desks described the move as a classic liquidity sweep in a thin weekend market - a setup that has repeated several times throughout 2024 and 2025.

Analysts Point to Leverage Crush, Not Fundamentals

Observers quickly pointed out that the crash didn’t stem from any major negative news. Instead, analysts highlighted that Bitcoin’s drop was driven by excessive leverage built up over the past several days. The Kobeissi Letter said the crypto market once again demonstrated how quickly weekends can turn volatile, writing that “Friday night and Sunday night often come with large crypto moves.”

On-chain metrics showed aggressive liquidation of overleveraged long positions, which triggered a chain reaction of forced sell orders as prices dropped through key support levels.

Half a Billion Dollars in Liquidations

The crash wiped out an enormous number of traders. Over 180,000 individual trading accounts were liquidated within 24 hours, according to CoinGlass. Total liquidations reached $539 million, with almost 90% of the positions being longs across Bitcoin, Ethereum, and other major assets. 

Bitcoin alone accounted for the largest share of forced unwinds, with Ether also seeing a heavy drop. Markets across the board turned sharply red as cascading liquidations caused liquidity to vanish, forcing prices lower in rapid succession.

The liquidation pressure highlights how aggressive risk-taking had become across derivatives platforms as traders attempted to front-run a potential breakout above $92,000 - a level Bitcoin failed to reclaim multiple times throughout November.

Bitcoin Closes Its Worst November Since 2018

The sudden crash capped what was already a painful month for Bitcoin. November closed with a 17.49% decline, marking BTC’s worst monthly performance of 2025 so far and its worst November since the brutal 2018 bear market, when the asset collapsed by 36.57%.

Despite the carnage, some analysts are reading the drop as a healthy reset.

He noted that the CME gap closed early, liquidity was swept from the downside, and over $400 million in longs had cleared out - conditions he views as ideal for rebuilding market strength.

With volatility still high and liquidations continuing to hit the market, traders are bracing for another unpredictable week.