Key Notes

Key Notes:

The week started with a heavy downturn in the crypto market, with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) retreating from their January highs following President Donald Trump’s inauguration.Close to $155 million in leveraged positions were forcefully liquidated across major centralized exchanges, as bearish pressure intensified.Data from CoinGlass reveals that nearly 87,687 traders faced liquidation during the market sell-off.

The new week is off to a rough start for cryptocurrency investors as Bitcoin BTC $96 656 24h volatility: 1.3% Market cap: $1.92 T Vol. 24h: $17.95 B , Ethereum ETH $2 769 24h volatility: 5.0% Market cap: $333.82 B Vol. 24h: $18.23 B , Solana SOL $173.2 24h volatility: 3.3% Market cap: $84.70 B Vol. 24h: $2.58 B , and other digital assets continue to retreat from their recent highs in January following the inauguration of pro-crypto President Donald Trump. The market downturn has wiped out significant gains, leaving traders scrambling to assess the next possible move.

On Monday, nearly $160 million in open leveraged positions across different centralized exchanges such as Binance and Bitget were forcibly liquidated as the bears continued to tighten their grip on the market. Data from CoinGlass shows that more than 87,687 traders were affected during the sell-off, adding to the growing anxiety in the crypto space.

In the past 24 hours, Bitcoin has dropped nearly 2%, currently trading around $96,000 — a far cry from its historic peak of $109,000 just a few weeks ago. According to CoinMarketCap, the leading crypto asset has plummeted by approximately 6% over the past four weeks, reflecting broader market instability.

Bitcoin commands a market capitalization of $1.9 trillion, but persistent selling pressure has weakened investor confidence.

The price decline triggered a cascade of losses for futures traders, as exchanges forcefully closed open positions to prevent further losses. Liquidations tied to Bitcoin alone totaled approximately $22 million, with $21 million coming from long positions and $1.37 million from shorts. The sharp downturn has raised concerns about whether Bitcoin can regain its bullish momentum or if further declines are on the horizon.

Altcoins, including Ethereum, also faced substantial liquidations. Ethereum posted nearly $20 million in liquidations, with more than $15 million from long positions and approximately $4 million from shorts. The second-largest cryptocurrency by market cap is struggling to find support, adding to the uncertainty surrounding the broader market.

Other cryptocurrencies like Solana and Binance Coin BNB $669.6 24h volatility: 4.0% Market cap: $97.75 B Vol. 24h: $1.01 B suffered liquidations of approximately $16 million and $1.5 million, respectively. Even Trump’s newly launched meme coin TRUMP TRUMP $16.55 24h volatility: 4.6% Market cap: $3.31 B Vol. 24h: $631.91 M was not spared, as traders experienced nearly $5 million in losses due to the declining market conditions.

According to CoinGlass data, the largest single liquidation order occurred on the crypto exchange Bybit, where a trader lost $1.6 million in the BTC/USDT trading pair. The scale of these losses underscores the risks associated with leveraged trading, particularly in uncertain market conditions.

Most liquidations took place on Binance, the largest crypto exchange by trading volume. The company accounted for more than 35% of the total liquidations, making it the hardest-hit exchange during the downturn.

Other major exchanges such as Bybit, OKX, HTX, Bitfinex, and BitMEX also reported substantial liquidation volumes, further emphasizing the widespread impact of the market crash.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.

Chimamanda U. Martha on X

Julia Sakovich on X