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Bitcoin’s sharp rise and fall starts week with $418 million in liquidations

Crypto positions unwind with $245M in longs liquidated across major exchanges.

CryptoSlate

Jan 13

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Happy Monday!

Bitcoin's tumultuous start to the week has resulted in a staggering $418 million in liquidations, with long positions taking the brunt of the hit. As traders reacted to the volatility, crypto exchanges reported a significant unwind of positions, amounting to $245 million in liquidated longs. This market turbulence is compounded by broader concerns, including a modest $48 million inflow into crypto investment products led by Bitcoin and XRP, and the resurfacing of a major email leak affecting 7 million OpenSea users, raising alarms about potential phishing attacks. As the crypto landscape shifts, these developments signal a critical moment for investors and enthusiasts alike.

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The global crypto market cap is $3.19 trillion, with a 24-hour volume of $148.72 billion. The price of Bitcoin is $92,134.01, and BTC market dominance is 57.0%. The price of Ethereum is $3,050.12, and ETH market dominance is 11.5%. The best-performing sector is Art, which gained 18%. The Crypto Fear & Greed Index is currently Greed (61).