Key takeaways
- Crypto markets saw over $864 million in liquidations in 24 hours, affecting over 241,000 traders.
- Bitcoin and Ethereum were heavily impacted, with $229 million and $153 million in liquidations, respectively.
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Crypto markets have seen high volatility over the past 24 hours, with liquidations exceeding $864 million, according to CoinGlass.
The event affected more than 241,000 traders, with long positions bearing the brunt of the losses. Long positions absorbed the majority of the damage, totaling around $782 million.
The total crypto market cap slipped nearly 3% to around $3.2 trillion, according to CoinGecko.
Bitcoin fell from over $95,000 to nearly $92,000, resulting in liquidation losses of $229 million. Ethereum followed with $153 million in liquidations. The largest loss was a $25.8 million BTC-USDT position on Hyperliquide.
The crypto market declined in the new week as geopolitical tensions rose following President Trump’s threat to impose tariffs on Denmark and its key European allies in the Greenland conflict.
The plan includes a 10% tariff, effective in February, which will increase to 25% in June if negotiations fail. Trump argued that these countries have long benefited from the United States protection and claimed that Greenland was key to countering growing foreign influence and supporting the development of the “Golden Dome” missile defense system.
