On the night of January 21, 2025, the bitcoin price fell below $89,000, according to TradingView. This triggered a wave of futures liquidations, with daily lossesOn the night of January 21, 2025, the bitcoin price fell below $89,000, according to TradingView. This triggered a wave of futures liquidations, with daily losses
Liquidations Hit $930M as Bitcoin Fell Below $89,000
- The crypto market saw a sharp sell-off driven by macroeconomic factors.
- The bitcoin price dropped below $89,000, dragging other assets down with it.
- According to CoinGlass, daily liquidations totaled nearly $930 million.
On the night of January 21, 2025, the bitcoin price fell below $89,000, according to TradingView. This triggered a wave of futures liquidations, with daily losses totaling nearly $930 million.
As of writing, the asset is trading around $89,600. The weekly chart shows a drawdown of more than 6%.
BTC/USDT price on the Binance exchange. Source: TradingView.
Other crypto assets also sold off alongside bitcoin. In particular: Ethereum — -4.6% on the daily chart, Solana — -2.46%, TRX — -3.77%.
Top 10 crypto assets by market capitalization. Source: CryptoRank.
More than 176,000 traders were forced out of their positions. Losses were dominated by long positions, as market participants likely expected a rebound after the correction on January 19.
Daily futures liquidations in the crypto asset market. Source: CoinGlass.
The fear and greed index fell by another 13 points. It indicates that sell-side sentiment is dominating the crypto market.
Crypto asset market Fear and Greed Index. Source: CoinStats.
The crypto market sell-off is likely driven by broader macroeconomic uncertainty. In addition to the factor of US President Donald Trump’s tariff policy, a sell-off in Japanese government bonds also fueled concerns.
At the same time, stock indices also posted losses, including MSCI — 0.3% and Nikkei — 1.2%.
Market Opportunity
2131KOBUSHIDE Price(21)
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