Crypto entered September with a broad risk-off session. Bitcoin fell 1.67% to $77,592.74, while Ethereum dropped 2.32% to $2,419.24. Solana, XRP, Dogecoin, and several other large-cap assets also closed lower. Derivatives data confirms a downside-driven deleveraging event. Bitcoin futures recorded $77.08 million in liquidations, including $70.52 million from longs. A single $52.86 million liquidation event occurred at 16:00 UTC on September 1, representing roughly 68.6% of the daily total.