\n<\/p>\n
\n\t\t\t\t\t\t\t\t\tWas a group of large players dumping major holdings during the weekend or was there something else behind today’s crash?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The cryptocurrency market is in a knockdown state for over a week now, with bitcoin plunging from $81,000 to just under $65,000 as of Saturday. What\u2019s most surprising is that the latest leg down took place over the weekend, a period known for a lack of major moves \u2013 at least over the past few years \u2013 especially when there\u2019s no major cathartic event, such as a new war starting somewhere.<\/p>\n
Popular analyst Ted Pillows offered an interesting insight into what caused the move.<\/p>\n
CryptoPotato already explored<\/a> in great detail the broader market reasons behind BTC\u2019s major collapse from the recent local peak at $81,000. However, they didn\u2019t explain (at least until the last portion) why the asset kept plunging over the weekend. Some users on X argued that a major player (or a group of whales) dumped a significant portion of their holdings, which tanked the market further.<\/p>\n According to Pillows, though, that\u2019s not the case, as there\u2019s no evidence of big sell-offs worth over $50 million. He couldn\u2019t identify any large deposits to exchanges either. In fact, he pointed to Erik Voorhees-linked wallets that kept buying the dip, scooping up almost $100 million worth of ETH in 4 days, while the asset\u2019s price deteriorated<\/a> to $1,820.<\/p>\n Instead, he blamed it on excessive leverage, as it has been the case in previous similar instances, such as the October 2025 market-wide collapse. Pillows said $200 million was liquidated in a single hour as BTC dipped below $66,000, and the total value jumped to over $500 million on Saturday alone. Naturally, almost all of it was from longs (94%).<\/p>\n \u201cSo this is forced selling, not whales dumping,\u201d he concluded<\/a>.<\/p>\n<\/blockquote>\n Meanwhile, fellow analyst Crypto Rover pointed to another quickly changing and troubling specter of the current market environment: disappearing liquidity. Citing on-chain data, he noted that the market has lost almost $9 billion worth of stablecoins during the latest leg down (a decrease of around 4.86%), in which BTC dumped by 24%-25%.<\/p>\n For comparison, the stablecoin market cap declined by 3.70 in May this year when BTC tanked by over 30%. During the January bitcoin crash of 38.42%, the same metric shrank by less than 2%.<\/p>\n \ud83d\udea8 Bitcoin just experienced its LARGEST stablecoin market cap wipeout of 2026.<\/p>\n January 2026: May 2026: October 2026: Nearly $9 BILLION has been wiped from the stablecoin market cap during the latest decline.<\/p>\n Liqudidity is leaving crypto RAPIDLY!<\/p>\n \u2014 Crypto Rover (@cryptorover) November 14, 2026<\/a><\/p>\n<\/blockquote>\n\n
Stablecoin Trouble<\/h2>\n
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Bitcoin crashed 38.42%, while stablecoin market cap dropped just 1.92%.<\/p>\n
Bitcoin crashed 30.11%, while stablecoin market cap dropped 3.70%.<\/p>\n
Bitcoin crashed only 23.92%, while stablecoin market cap dropped a massive 4.86%.<\/p>\n