A severe winter storm has forced US miners to curtail operations, dragging bitcoin’s hashrate, output and miner margins to their weakest levels in months.
Ether, solana and XRP led losses across crypto as a wave of long liquidations swept futures markets, showing stress spreading beyond bitcoin during weekend trading.
Social chatter around bitcoin has turned sharply negative after the token slid to its lowest level since Nov. 21, a setup Santiment says often appears near capitulation, even if near term trading stays messy.
Bitcoin slid under $78,000 on Saturday as thin weekend liquidity magnified selling pressure, with traders pointing to Middle East tensions, U.S. political risk and lingering crypto-specific uncertainty.
Months after Oct. 10’s flash crash and liquidation cascade, a fresh spat has opened between exchange executives and market watchers over whether a leveraged yield loop, thin liquidity, or busted market plumbing did the real damage.
Binance says October 10’s crypto flash crash was driven by a macro risk-off shock, cascading liquidations, and thin liquidity, while acknowledging two platform-specific issues that occurred after most losses had already been incurred.
Tokenized silver futures recorded the largest liquidations across crypto markets over the past 24 hours, overtaking bitcoin and ether as a sharp pullback in metals collided with leverage-heavy trading on crypto venues.
U.S.-listed spot bitcoin and ether ETFs saw one of their worst combined outflow days of 2026 as falling prices, rising volatility and macro uncertainty pushed investors to cut exposure.
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