ADA, XRP, and SOL futures each saw over $70 million in liquidations on Sunday, marking their highest levels since September 2024, according to Coinglass data.

Bearish traders faced nearly $600 million in losses after President Donald Trump’s announcement of a U.S. strategic crypto reserve sparked a rapid surge in digital asset prices.

Sundays often see lower trading liquidity, which can lead to exaggerated price swings. This time, Cardano’s ADA skyrocketed 60% in 24 hours, while XRP and Solana’s SOL posted 25% gains. Bitcoin (BTC) also climbed 9%, adding to the market’s upward momentum.

BTC-tracked futures led the liquidation totals, with over $344 million in positions closed, followed by $170 million in liquidations for ETH-tracked futures.

Liquidations occur when exchanges forcefully close leveraged positions due to insufficient margin, preventing traders from maintaining their open trades. This is a common phenomenon during periods of heightened volatility.

Sharp liquidation spikes can act as contrarian market indicators, suggesting that assets may be overbought and due for corrections or profit-taking. Traders analyze these signals alongside other technical factors to make strategic decisions.

Meanwhile, open interest—the total number of unsettled futures contracts—has jumped by as much as 40% for XRP, ADA, and SOL, highlighting expectations of continued market volatility.

Bitcoin (BTC) surged past $93,000 in early Monday trading, rebounding from last week’s drop to $83,500. The decline was driven by macroeconomic factors, including U.S. tariffs and increased demand for safe-haven assets like gold and the Japanese yen.

Some analysts had predicted further downside for BTC, potentially pushing it toward the mid-$70,000 range, as indicated by rising short positions and downside-leaning open interest.

However, Trump’s comments have reignited bullish sentiment, at least in the short term. While traders remain cautious about long-term sustainability, expectations for BTC to reach $100,000 have resurfaced, as noted in a CoinDesk analysis earlier Monday.