Crypto-linked stocks dip as $1.5B in bullish bets said to be wiped out

[Cryptocurrency on Binance trading app, Bitcoin BTC with altcoin digital coin crypto currency, BNB, Ethereum, Dogecoin, Cardano, defi p2p decentralized fintech market]
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Crypto-linked stocks fell after more than $1.5 billion in bullish positions were liquidated Monday, which sparked a sharp selloff, particularly affecting smaller tokens.

Ether (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) fell as much as 9% to $4,075, with nearly $500 million in leveraged long positions wiped out, according to Coinglass data. Bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) dropped nearly 3% to $111,998, later rebounding to $112,592.5 at the time of reporting.

The liquidations impacted more than 407,000 traders within 24 hours, briefly pushing the total crypto market capitalization below $4 trillion before a slight recovery.

Other notable crypto decliners included XRP (XRP-USD [https://seekingalpha.com/symbol/XRP-USD]) -5.3%, Binance Coin (BNB-USD [https://seekingalpha.com/symbol/BNB-USD]) -2.16%, Solana (SOL-USD [https://seekingalpha.com/symbol/SOL-USD]) -6.8%, Stellar (XLM-USD [https://seekingalpha.com/symbol/XLM-USD]) -5.9%, Celestia (TIA-USD [https://seekingalpha.com/symbol/TIA-USD]) -10%, Uniswap (UNI-USD [https://seekingalpha.com/symbol/UNI-USD]) -10%, Avalanche (AVAX-USD [https://seekingalpha.com/symbol/AVAX-USD]) -6.7%, and Dogecoin USD (DOGE-USD [https://seekingalpha.com/symbol/DOGE-USD]) -8.4%.

Crypto stocks on watch: MicroStrategy (MSTR [https://seekingalpha.com/symbol/MSTR]) -3.2% premarket, CleanSpark (CLSK [https://seekingalpha.com/symbol/CLSK]) -4.5%, Hut 8 (HUT [https://seekingalpha.com/symbol/HUT]) -2.6%, Coinbase Global (COIN [https://seekingalpha.com/symbol/COIN]) -3.7%, Riot Platforms (RIOT [https://seekingalpha.com/symbol/RIOT]) -3.5%, MARA Holdings (MARA [https://seekingalpha.com/symbol/MARA]) -3.9%, Bit Digital (BTBT [https://seekingalpha.com/symbol/BTBT]) -5.1%, Bitfarms (BITF [https://seekingalpha.com/symbol/BITF]) -2.8%, HIVE Digital Technologies (HIVE [https://seekingalpha.com/symbol/HIVE]) -5.3%, Cipher Mining (CIFR [https://seekingalpha.com/symbol/CIFR]) -1.4%, Bitmine Immersion Technologies (BMNR [https://seekingalpha.com/symbol/BMNR]) -7.5%, Bullish (BLSH [https://seekingalpha.com/symbol/BLSH]) -5.2%.

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