Bitcoin Slips Below $100K Mark: 2025 January Crypto Market Liquidations Hit $1.18 Billion
After hitting close to its all-time high, Bitcoin temporarily dropped down below $100,000, and cryptocurrency market liquidations over the past day have totaled over $1 billion. Nearly 406,000 traders have liquidated $1.18 billion in the last day, according to CoinGlass, with $260 million going to short liquidations and approximately $921 million going to long liquidations. Following over $202 million in Bitcoin longs, Ether liquidations dominated the market with over $207.5 million in long liquidations over the past day.
Bitcoin Tumbles 6% in Hours: Is a Bigger Correction Ahead?
Bitcoin fell more than 6% from its intraday high of $106,300 to roughly $99,700 on January 19. The move was similar to a market meltdown on January 7 that caused Bitcoin to plummet by a comparable amount in a few hours. The downturn persisted for a week, with Bitcoin bottoming out at just over $90,000 by January 13. According to cryptocurrency trader Bluntz, there were top indicators everywhere on X.
I think we’re at the stage in the cycle where it would be prudent to take some chips off the table,
Bluntz
Trump Memecoin Mania Ends with a 40% Drop Following $70B Valuation
The excitement around Donald Trump’s memecoin, which was introduced over the weekend, seems to have petered out, as the token dropped more than 40% in a few hours on January 20 after reaching a fully diluted worth of over $70 billion the day before. It dropped after Melania Trump, the wife of the next US president, introduced her own namesake coin on January 19, which reached a peak valuation of more than $13 billion within hours of the debut.
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