Bitcoin briefly plunged about $5,000 in under 10 minutes late Monday, sliding to an intraday low of $110,671 before recovering to trade back above $112,000. The sudden sell-off followed a period of relative calm in the largest digital asset, which had been hovering just below its recent highs. The price shock triggered a wave of forced liquidations across crypto-derivatives markets. Data compiled from trading platforms show roughly $250 million to $300 million of leveraged Bitcoin long positions were wiped out in the space of an hour. Across both Bitcoin and Ether futures, estimated open interest worth around $3 billion evaporated in minutes, underscoring the continued fragility of highly margined bets. Over the past 24 hours, about 130,000 traders saw positions closed automatically, with aggregate losses approaching $544 million, according to preliminary exchange figures. The shake-out came shortly after Ether notched a record high, a move that had encouraged additional leverage before the abrupt reversal. Analysts said there was no single catalyst immediately identifiable, pointing instead to thin liquidity during U.S. evening hours and the prevalence of high-frequency trading strategies. The episode highlights the outsized impact that rapid shifts in positioning can still exert on the maturing but volatile $2 trillion digital-asset market.