A sudden wave of crypto liquidations and sharp equity moves highlighted just how quickly sentiment can shift across digital assets and the companies tied to them.
The cryptocurrency market endured one of its most dramatic shake-outs of the year on Monday, erasing more than $150 billion in total market value and triggering over $1.8 billion in forced liquidations of leveraged positions, according to data from derivatives tracker CoinGlass.
Roughly 370,000 traders were swept out as Bitcoin briefly slid below $112,000 and Ether dropped under $4,150, their steepest intraday pullbacks since mid-August.
Analysts attributed the rout less to deteriorating fundamentals and more to classic technical pressures. “These are the kinds of shake-outs that clear excessive leverage before a market resumes its broader trend,” said one strategist, pointing to historical September corrections that have often preceded late-year rallies.
Treasury Bets Backfire
Publicly traded firms holding large crypto positions felt the sting almost immediately.
- Helius Medical Technologies, which recently disclosed a $175 million Solana purchase, saw its shares plunge more than 30% as Solana prices retreated.
- CEA Industries, a former vaping company that pivoted into a BNB treasury strategy, dropped nearly 20% after unveiling a $500 million share sale.
- BitMine Immersion Technologies and Strategy Inc., both known for hefty Bitcoin and Ether allocations, also finished the day lower.
The sell-off reinforced warnings from industry veterans that corporate crypto treasuries need long-term discipline rather than short-term trading. “Digital assets aren’t inherently risky, it’s how they’re managed,” one fund manager noted.
Pivots Find a Silver Lining
Yet not every crypto-linked stock suffered. Companies announcing new digital-asset initiatives attracted buyers even as markets swooned.
- Agricultural-tech firm AgriFORCE nearly doubled in value after revealing plans to rebrand around the Avalanche blockchain and raise fresh capital for token purchases.
- Cancer-therapy developer Qualigen Therapeutics soared on news of a planned Web3 venture backed by a major EV investor.
- Custody platform Bakkt Holdings and Bitcoin-treasury convert Semler Scientific also logged strong gains on strategic moves and board changes.
What’s Next
Market watchers say the week’s turbulence may prove healthy if it flushes out excessive leverage. Technical analysts highlight the $100,000–$105,000 zone as potential support for Bitcoin, a level that coincides with its 200-day moving average.
Despite the drama, Bitcoin remains up for the month, and many traders still eye the historically bullish fourth quarter, dubbed “Uptober” by crypto veterans, as a possible launchpad for the next leg higher.
Bottom line: Monday’s action shows that while crypto-treasury strategies can amplify stock volatility, sudden liquidations are a feature, not a flaw, of a maturing market still capable of violent, but often short-lived, resets.
