Nearly $160 Million Liquidated in Crypto As Market Continues to Crash
Coinspeaker Nearly $160 Million Liquidated in Crypto as Market Continues to Crash
The new week is off to a rough start for cryptocurrency investors as Bitcoin BTC $96 164 24h volatility: 1.1% Market cap: $1.91 T Vol. 24h: $18.57 B , Ethereum ETH $2 751 24h volatility: 1.9% Market cap: $331.49 B Vol. 24h: $14.37 B , Solana SOL $183.6 24h volatility: 5.0% Market cap: $89.56 B Vol. 24h: $3.74 B , and other digital assets continue to retreat from their recent highs in January following the inauguration of pro-crypto President Donald Trump. The market downturn has wiped out significant gains, leaving traders scrambling to assess the next possible move.
On Monday, nearly $160 million in open leveraged positions across different centralized exchanges such as Binance and Bitget were forcibly liquidated as the bears continued to tighten their grip on the market. Data from CoinGlass shows that more than 87,687 traders were affected during the sell-off, adding to the growing anxiety in the crypto space.
Bitcoin Faces Heavy Selling Pressure
In the past 24 hours, Bitcoin has dropped nearly 2%, currently trading around $96,000 — a far cry from its historic peak of $109,000 just a few weeks ago. According to CoinMarketCap, the leading crypto asset has plummeted by approximately 6% over the past four weeks, reflecting broader market instability.
Bitcoin commands a market capitalization of $1.9 trillion, but persistent selling pressure has weakened investor confidence.
The price decline triggered a cascade of losses for futures traders, as exchanges forcefully closed open positions to prevent further losses. Liquidations tied to Bitcoin alone totaled approximately $22 million, with $21 million coming from long positions and $1.37 million from shorts. The sharp downturn has raised concerns about whether Bitcoin can regain its bullish momentum or if further declines are on the horizon.
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