Positions worth $864 million were liquidated in 24 hours, rocking the crypto market

According to “CoinGlass” data, the digital currency market has fluctuated violently in the past 24 hours, with liquidations exceeding $864 million.

The wave of liquidations affected more than 241,000 traders, with long positions the most affected, recording losses of approximately $782 million in long positions alone.

At the same time, the total cryptocurrency market capitalization fell by about 3% to about $3.2 trillion, according to the “CoinGecko” platform.

Specifically, the price of Bitcoin fell from above $95,000 to nearly $92,000, resulting in approximately $229 million in liquidations.

The price of Ethereum also recorded around $153 million during the qualifiers.

The largest single liquidation was recorded for a BTC-USDT position worth $25.8 million on the “Hyperliquid” platform, reflecting the intensity of the market’s rapid fluctuations.

The drop came at the start of a new trading week amid heightened geopolitical tensions after U.S. President Donald Trump threatened to impose tariffs on Denmark and some European allies amid a dispute over Greenland.

According to the announced plan, tariffs will be imposed at 10% starting in February and will increase to 25% in June if negotiations fail.

Trump believes that these countries have long benefited from U.S. protection and that Greenland has strategic importance in countering growing external influences and supporting the Golden Summit missile defense system project.

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