Liquidations Top $2.5B as #Bitcoin, #Ethereum, and XRP Prices Plunge


Forced liquidations across crypto markets reached $2.58 billion within 24 hours on Saturday, according to CoinGlass. A total of 434,945 traders had positions closed against them, with long bets accounting for $2.42 billion of the total and shorts making up just $163 million.


$BTC fell 8% to $77,195, its lowest price in nine months. The weekly decline now exceeds 13%, and the asset has given back close to 39% from its October peak above $126,000. The drop put sustained pressure on every major token in the market.


$ETH recorded the largest liquidation volume of any asset, with over $1.15 billion in positions forcibly closed after the token dropped as much as 17% in a single day. The price settled at $2,362, now down 20% on the week and 52% from its August peak near $5,000.


#Hyperliquid bore the heaviest damage among exchanges, processing $1.09 billion in liquidations, almost all from long positions, according to CoinGlass. That figure alone represented more than 40% of total liquidations across the market. Bybit came in second at $574.8 million, and Binance recorded roughly $258 million during the same 24-hour window.


The sell-off extended well beyond the two largest assets. $XRP fell 10% to $1.58, $SOL dropped 14% to $101, and $DOGE declined 13% to $0.101. Thin #liquidity across derivatives markets turned even modest price declines into larger cascading moves, amplifying losses for traders holding leveraged positions.


#Prediction market Myriad now prices a 65% chance that $BTC hits $69,000 before recovering to $100,000. That probability rose by 22 percentage points in a single day, one of the sharper sentiment shifts recorded over the weekend.


Saturday's crash did not arrive in isolation. A partial U.S. government shutdown took effect that morning, and growing concerns about a possible burst in the AI investment bubble added to the pressure on risk assets.

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February 02, 2026 at 1:03 AM
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