A slow bleed in crypto since late in the weekend accelerated into the early evening U.S. hours on Monday, leaving nearly the entirety of the sector sharply lower.

With prices in quick retreat, bitcoin (BTC) at press time had fallen back to just above $95,000, down about 5% over the past 24 hours. Ether (ETH) was down 10% to $3,590.

The broader CoinDesk 20 Index was lower by more than 8% over the same time frame, led by roughly 20% dives for Cardano (ADA), Avalanche (AVAX), and XRP (XRP).

Over $750 million worth of leveraged derivatives positions were liquidated across all digital assets over the past day, CoinGlass data shows, the ovewhelming majority of which were bullish bets. That puts today’s flush almost on par with the August 5 crash and just trailing last Thursday’s wild swing when BTC plunged to $90,000 from above $100,000.

There are some signs of waning momentum on the crypto markets, including declining exchange volumes and heavy profit-taking by long-term holders, analytics firm 10x Research pointed out in a Monday morning

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Author: Krisztian Sandor, Stephen Alpher