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$150 Million in Crypto Long Positions Liquidated in One Hour

On January 8, 2026, the cryptocurrency market experienced a significant surge in liquidations, with $150 million in long positions wiped out within just one hour. This was triggered by a sudden drop in Bitcoin's price, which fell below crucial levels.

Within the first hour, approximately $88.23 million in long positions were liquidated, followed by an additional $57.02 million in the second hour. The majority of these liquidations took place on the Hyperliquid exchange, which also recorded the largest single forced closing of around $3.63 million. In total, over $464 million in crypto positions were liquidated over the past 24 hours, affecting more than 137,000 traders.

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Bitcoin Leads the Liquidations

Bitcoin (BTC) was the hardest hit, with $66.5 million in long positions liquidated, almost doubling the amount seen in Ethereum (ETH), which suffered around $33.8 million in liquidations. This decline was triggered by a sharp drop in Bitcoin's price, which fell to around $89,600. This sudden price movement emphasized how quickly leveraged trades can be unwound in volatile market conditions.

Altcoins Also Affected

The liquidation event affected not only Bitcoin but also XRP, which saw $6 million in long positions liquidated, leading to a 6.8% drop in its price. Similarly, Ethereum dropped by 2.8%, contributing to the overall downturn in the market.

Overall, the total market capitalization of cryptocurrencies dropped from $3.21 trillion to around $3.09 trillion, a decline of 2.19%.

The Impact of Leveraged Trades

This event highlights the risks associated with leveraged long positions, especially in volatile markets. When large amounts of leverage are concentrated around key price levels, even minor market retracements can trigger significant liquidations. These cascading liquidations create amplified volatility, increasing the losses for traders and making the market more unpredictable.

Simonas Brazionis

Blockchain Expert

Simonas is a crypto and blockchain expert with 6 years of experience. Passionate about the industry he educates others on blockchain technology, and continuously expands his knowledge. He has helped many newcomers understand crypto, navigate investments, and stay informed about trends like DeFi and NFTs.