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BTCC / BTCC Square / Global Cryptocurrency /
$1.08 Billion Liquidation Wave Hits Crypto Markets as Bitcoin and Ethereum Lead Losses

$1.08 Billion Liquidation Wave Hits Crypto Markets as Bitcoin and Ethereum Lead Losses

Author:
Global Cryptocurrency
Published:
2026-01-21 13:10:01
6
1
BTCCSquare news:

A brutal liquidation storm swept through cryptocurrency markets, wiping out $1.08 billion in Leveraged positions within 24 hours. Bitcoin and Ethereum bore the brunt, with $427 million and $374 million in long liquidations respectively, as cascading margin calls triggered forced sell-offs across major exchanges.

Data from CoinGlass reveals 2,729 traders were liquidated, with long positions accounting for 93% of total losses. The single largest hit was a $13.52 million BTC-USDT position on Bitget. Hyperliquid, Bybit, and Binance saw $287 million in combined liquidations, exacerbating downward price pressure.

Technical indicators flashed warnings beforehand - most altcoins now trade with daily RSI readings below 50, signaling sustained selling momentum. The liquidation-to-open-interest ratio remains elevated, suggesting continued volatility risk.

Notable casualties include Machi Big Brother, liquidated five times in one day for $24 million. The trader's remaining 2,200 ETH ($6.67 million) now hangs in the balance, with liquidation triggers set at $2,991 per token.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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