Crypto liquidations hit $1B over 24 hours as Bitcoin plummets
Crypto market liquidations exceeded $1 billion in 24 hours, with $1.18 billion liquidated from nearly 406,000 traders. Long liquidations accounted for approximately $921 million, while short liquidations totaled around $260 million. Ether (ETH) led with over $207.5 million in long liquidations, followed closely by Bitcoin (BTC) with over $202 million. Bitcoin dropped more than 6%, falling from an intraday high of $106,300 to about $99,700. This decline mirrored a previous market rout on January 7. Altcoins experienced significant losses, with ETH down over 5% to an intraday low of $3,150, while XRP, Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), Sui (SUI), and Stellar (XLM) saw double-digit declines. Donald Trump’s memecoin plummeted over 40% after a brief surge, coinciding with the launch of Melania Trump’s token, which peaked at over $13 billion in valuation.
