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Sujit Kumar
Jan 20, 2025
by Sujit Kumar

Crypto Market Faces $1.2B Liquidations as Bitcoin Drops Below $100K

Crypto Market Faces $1.2B

Table of contents

  1. Bitcoin & Ethereum Lead Liquidation Wave
  2. Altcoins & Trump Memecoins Face Steep Losses
The cryptocurrency market witnessed massive liquidations exceeding $1.2 billion in the past 24 hours, following a sharp decline in Bitcoin’s price. BTC, which was nearing its all-time high, saw a sudden drop of over 6%, briefly falling below $100,000.

Bitcoin & Ethereum Lead Liquidation Wave

According to CoinGlass, the majority of liquidations came from long positions, accounting for $921 million, while short liquidations made up $260 million.

Ethereum was hit the hardest, with $207.5 million in liquidations, followed closely by Bitcoin at $202 million. BTC dropped from an intraday high of $106,300 to $99,700 on January 19, mirroring a similar market crash earlier this month.

Popular crypto trader Bluntz warned that the market may be reaching a peak, advising investors to consider taking profits: "Top signals are everywhere."

Altcoins & Trump Memecoins Face Steep Losses

Major altcoins also suffered, with Ethereum slipping 5% to $3,150, while XRP, Dogecoin, Cardano, Avalanche, Sui, and Stellar saw double-digit declines.

Meanwhile, the Trump-themed memecoins experienced a dramatic reversal. The $TRUMP token, which surged to a $70 billion valuation, collapsed by 40% on January 20. The launch of Melania Trump’s $MELANIA token added to the volatility, briefly reaching $13 billion before crashing.

With extreme fluctuations and massive liquidations, traders remain on edge as crypto volatility surges.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Crypto Market Faces $1.2B
Crypto Market Faces $1.2B Liquidations as Bitcoin Drops Below $100K
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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