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.”

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.