Jan 29, 2026
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BEARISH 📉 : Bitcoin Erases $85B in 4 Hours Amid $500M Liquidations
Key Points on Bitcoin Market Activity:
- Bitcoin experienced a significant market cap decrease, losing over $85 billion in less than four hours.
- The price of Bitcoin dropped by 5.83%, trading at $84,437.
- The crypto market faced over $200 million in liquidations post US market opening, with Bitcoin accounting for $206 million of these liquidations.
- The 24-hour exchange volume for Bitcoin increased by 20% to $51 billion.
- Analysts had anticipated this drop, predicting a revisit to the $80,000-$84,000 range before potentially reaching new highs above $100,000.
- Over 200,000 traders liquidated more than $800 million in positions within 24 hours, with the largest single liquidation being a $31 million long position.
- This event is notable but not as severe as the $19.35 billion liquidation event on October 10.
- Potential recovery could depend on macroeconomic and geopolitical conditions, which remain uncertain.
- Bitcoin is not currently acting as a hedge against the declining US dollar, unlike gold and other metals that have shown strong performance.
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