A $369.67 million liquidation wave hit Bitcoin, Ethereum, Solana and XRP traders on September 2 as rising oil prices and Treasury yields pushed Fed rate-hike odds higher. At the same time, the SEC proposed a blockchain overhaul for transfer agents and set a September 17 roundtable with BlackRock, Nasdaq and NYSE on 24/7 stock trading.
Exchanges closed the positions of more than 90,000 leveraged traders on Wednesday morning, September 2, 2026, as worsening macroeconomic pressure triggered $369.67 million in derivatives liquidations. Long positions accounted for $301.84 million of the total, while shorts lost $67.83 million.
Long squeeze drags Bitcoin, Ethereum and Solana lower
Bitcoin recorded the largest losses in absolute terms, with $111.83 million in liquidations pushing the price down 1.3–1.8% toward the $77,200–$77,600 support zone. Ethereum fell around 2% into the $2,410–$2,430 range, with liquidations reaching $95.39 million, including an $11.99 million single order on Binance. Solana declined 2–3.5%, falling below the $100 mark to $98.47, with $27.09 million in forced closures. XRP retreated amid a scheduled escrow unlock, despite $170 million in ETF inflows over the past 11 days and Goldman Sachs joining its holders.
Despite the spot declines, institutional flows diverged. According to SoSoValue, Ethereum, Solana and XRP funds posted net inflows of $10.95 million, $10.19 million and $14.38 million respectively, even as Bitcoin ETFs saw $236.46 million in outflows.
Rising oil prices and Treasury yields drove the sell-off. WTI crude jumped above $90–$92 per barrel, while the 10-year Treasury yield climbed to around 4.78–4.79%, pushing Fed rate-hike odds for September 16 to 66%. Filecoin and Uniswap ignored the broader decline, gaining 14–15% and 11% respectively.
SEC moves ahead of Congress on blockchain rules
The SEC proposed overhauling the rules governing transfer agents to accommodate public blockchains and tokenized stocks, moving without waiting for Congress to pass the Clarity Act. The agency set a roundtable for September 17 with BlackRock, Citadel Securities, Nasdaq, NYSE, DTCC and Robinhood to discuss continuous stock trading.
According to Securitize: "raise standards, not lower them" A banking consortium led by Citi and Goldman Sachs is developing a dollar-backed stablecoin for 2027, while the London Stock Exchange is testing tokenization of major British stocks with Kraken's owners.
September has historically been weak for crypto: since 2013, Bitcoin has closed the month lower eight times out of 13, with an average return of -3%. The next catalyst is U.S. unemployment data due September 3.
Source: U.Today
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