In a dramatic turn of events over the past day, Digital Asset Treasury (DAT) firms faced sharp contractions in their holdings amid a sudden pullback of major cryptocurrencies.
According to CoinDesk, companies tied to strategies led by Michael Saylor suffered notable losses: as Bitcoin dropped below $117,000 and Ether slid to $4,400, many DAT portfolios plummeted.
The liquidation data is even more striking. In total, $866 million in long positions were wiped out during the period, with $348.9 million in Ether and $177.1 million in Bitcoin alone. Significant losses also hit Solana, XRP, and Dogecoin, with $64.2 million, $58.8 million, and $35.8 million liquidated, respectively.
These liquidations came as many traders remained overexposed to volatile moves, triggering a chain reaction across the crypto ecosystem. The speed of the sell-off and mounting pressure highlighted the fragility of leveraged strategies in a sharp correction scenario.
