Crypto Market Liquidations Exceed $1 Billion Amid Volatile Trading

The crypto market has experienced over $1.2 billion in liquidations in the past 24 hours, as Bitcoin briefly dipped below $100,000 after nearing its all-time high.

Data from CoinGlass reveals that approximately $1.18 billion was wiped ou, with long positions accounting for $921 million of the losses and short positions making up $260 million.

Ethereum led the liquidation wave, with $207.5 million in long liquidations, followed closely by Bitcoin at $202 million. Bitcoin dropped over 6%, falling from an intraday high of $106,300 to around $99,700 on January 19. This movement echoed a similar market decline on January 7, where Bitcoin saw a sharp drop, eventually bottoming at just over $90,000 by January 13.

Popular crypto trader “Bluntz” warned on X of potential market peaks, suggesting it might be time for investors to secure profits, stating, “Top signals are everywhere.”

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Altcoins mirrored Bitcoin’s struggles, with Ethereum dipping more than 5% to $3,150, though it remains within its month-long price channel. Other major cryptocurrencies, including XRP, Dogecoin, Cardano, Avalanche, Sui, and Stellar, suffered double-digit losses over the same period.

Meanwhile, the memecoin frenzy surrounding Donald Trump’s $TRUMP token appears to have cooled dramatically. After surging to a $70 billion fully diluted valuation, the token plummeted by over 40% on January 20. The decline followed the launch of Melania Trump’s $MELANIA token, which briefly hit a $13 billion valuation just hours after its debut on January 19. The rapid rise and fall of both tokens have added to the market’s volatility, further fueling liquidations across the board.

Alexander Zdravkov