The post Bitcoin and Ethereum crumble – $647 mln in longs vanish overnight! appeared on BitcoinEthereumNews.com.   Bitcoin [BTC] and Ethereum’s [ETH] major dip overnight left the market stunned. What triggered the decline? Is this the start of something new? Here’s the rundown. Bullcember? Nope Source: TradingView Bitcoin and Ethereum both opened December with back-to-back hourly breakdowns. BTC fell from around $86,300 to nearly $85,000 in a single hour, followed by continued bleeding toward $85,800. The sequence shows a clear change from steady consolidation to an abrupt sell-off, with no meaningful recovery attempts on subsequent candles. Source: TradingView Ethereum also moved similarly. It slipped from roughly $2,825 to just above $2,806 in the first major red candle, then plunged again toward $2,820 before drifting lower. The pattern on both charts looks like a synchronized market-wide drop, hitting both majors at the same moment and erasing hours of sideways stabilization in minutes. Liquidation data shows the damages Liquidation data shows how widespread the damage was. Across the last 24 hours, traders absorbed $647.25 million in liquidations, with longs taking the biggest hit at $572.91 million. BTC alone saw $201.89 million cleared, while ETH followed with $159.20 million. Source: CoinGlass Other majors weren’t spared either. The “Others” category logged $73.86 million, with Solana [SOL] at $35.09 million and Ripple’s [XRP] near $15.67 million. The single largest liquidation was an ETHUSDC position worth $14.48 million. The 12-hour window makes the wipeout concentration obvious: $571.90 million flushed out, almost entirely from long positions. Sell-side pressure Source: SoSoValue ETF data indicates a clear cooling of demand leading into the drop. Bitcoin spot ETFs saw only $71.37M in net inflows, following multiple days of heavy outflows reaching as deep as -$1.1B. Source: SoSoValue Ethereum ETFs also showed weakness, with long stretches of negative daily flows and assets sliding toward $19.15B. Source: Santiment Whale activity was elevated across both BTC and ETH, with… The post Bitcoin and Ethereum crumble – $647 mln in longs vanish overnight! appeared on BitcoinEthereumNews.com.   Bitcoin [BTC] and Ethereum’s [ETH] major dip overnight left the market stunned. What triggered the decline? Is this the start of something new? Here’s the rundown. Bullcember? Nope Source: TradingView Bitcoin and Ethereum both opened December with back-to-back hourly breakdowns. BTC fell from around $86,300 to nearly $85,000 in a single hour, followed by continued bleeding toward $85,800. The sequence shows a clear change from steady consolidation to an abrupt sell-off, with no meaningful recovery attempts on subsequent candles. Source: TradingView Ethereum also moved similarly. It slipped from roughly $2,825 to just above $2,806 in the first major red candle, then plunged again toward $2,820 before drifting lower. The pattern on both charts looks like a synchronized market-wide drop, hitting both majors at the same moment and erasing hours of sideways stabilization in minutes. Liquidation data shows the damages Liquidation data shows how widespread the damage was. Across the last 24 hours, traders absorbed $647.25 million in liquidations, with longs taking the biggest hit at $572.91 million. BTC alone saw $201.89 million cleared, while ETH followed with $159.20 million. Source: CoinGlass Other majors weren’t spared either. The “Others” category logged $73.86 million, with Solana [SOL] at $35.09 million and Ripple’s [XRP] near $15.67 million. The single largest liquidation was an ETHUSDC position worth $14.48 million. The 12-hour window makes the wipeout concentration obvious: $571.90 million flushed out, almost entirely from long positions. Sell-side pressure Source: SoSoValue ETF data indicates a clear cooling of demand leading into the drop. Bitcoin spot ETFs saw only $71.37M in net inflows, following multiple days of heavy outflows reaching as deep as -$1.1B. Source: SoSoValue Ethereum ETFs also showed weakness, with long stretches of negative daily flows and assets sliding toward $19.15B. Source: Santiment Whale activity was elevated across both BTC and ETH, with…