The cryptocurrency market tumbled over the weekend, erasing billions in value after renewed worries over U.S. monetary policy sparked a wave of liquidations.

Bitcoin dropped under $106,000, while Ethereum fell to around $3,620, both losing more than 4% in 24 hours. Leading altcoins – including Solana, BNB, and XRP – slumped between 5% and 10%, marking one of the sharpest pullbacks in weeks.

Data from Coinglass showed more than $1.10 billion in leveraged positions wiped out in a single day, with longs making up the overwhelming majority. The largest single liquidation, worth nearly $34 million, took place on HTX’s BTC-USDT pair.

Analysts said the sell-off followed hawkish comments from Federal Reserve officials,…