Weekend liquidations of about $2.6 billion hit crypto as ether fell as much as 17%
Over the weekend of January 31 to February 1, 2026, thin trading liquidity let a leveraged selloff cascade through crypto markets. CoinDesk reported that ether fell as much as 17% in 24 hours and that about $2.58 billion of positions were liquidated, most of them bullish bets. A single ETH-USD position worth about $223 million was wiped out on Hyperliquid.
- About $2.58 billion liquidated across crypto in 24 hours, roughly 92% of it long positions
- Ether fell as much as 17% in 24 hours per CoinDesk
- One ETH-USD position of about $222.65 million liquidated on Hyperliquid
- Low weekend trading volume was cited as amplifying the selloff
ETH around the story · hourly24 h reaction ▲ 2.34%
Moves this explains
ETH−9.44%Jan 30 · Fell 9.4% on a Saturday as thin weekend liquidity amplified a leveraged selloff. Ether traded toward $2,450 and crypto liquidations reached about $2.6 billion over 24 hours.ETH−7.39%Jan 31 · Fell 7.4% on the Sunday of the weekend liquidation cascade, closing near $2,270. Prices rebounded on Monday once trading liquidity returned.MSTR−10.05%Jan 31 · Strategy fell 10.05% to $136.34 while ether dropped 7.39% and bitcoin fell 2.25%. The move followed weekend crypto liquidations of about $2.6 billion, which reports tie to ether falling as much as 17%. Coinbase rose 0.25% and the S&P 500 rose 0.94%, so the drop was specific to the crypto complex.HOOD−4.12%Feb 2 · Robinhood fell 4.12% on 2026-02-03 in a crypto and AI-linked selloff: ether -4.82%, bitcoin -3.76%, Coinbase -4.56%, Strategy -6.22%, Nvidia -3.77%, and the S&P 500 -1.01%. Reports document the weekend crypto liquidations that started the week; AMD's same-day -11.38% is sector context only, not a Robinhood-specific cause.Source
CoinDeskFeb 1, 2026