Crypto Stocks Slide as Bitcoin and Ether Losses Trigger $1.6B in Liquidations – 22/9/2025

Crypto-related equities dropped sharply in pre-market trading Monday as Bitcoin (BTC) and Ether (ETH) extended overnight declines, driving $1.6 billion in liquidations across derivatives markets.

Coinbase (COIN) led the losses with a 3% drop, while MicroStrategy (MSTR) slipped 2.3%. Other notable declines included Mara Holdings (MARA) and Metaplanet (TYO: 3350), both falling more than 3%.

Treasury-focused crypto firms saw steeper declines: Solana-based Forward Industries (FORD) fell as much as 5%, and ETH-focused BitMine (BMNR) was down 3.9% in pre-market activity.

The equities sell-off follows a challenging start to the week in crypto markets during Asia’s morning session. Bitcoin and Ether were down 2.3% and 6.4%, respectively, with multiple altcoins experiencing double-digit percentage declines.

The downturn comes after a strong performance last week and follows the Federal Reserve’s decision to cut interest rates by 25 basis points. Market participants saw momentum stall across several tokens, triggering a cascade of liquidations. According to CoinGlass, roughly $500 million in ETH positions were liquidated over the past 24 hours.