Traders betting on a Trump-fueled supercycle got a brutal reminder.
Bitcoin’s sharp drop below $100,000 sparks a cascade of liquidations across crypto markets, wiping out $850 million (₱49.6 billion) in leveraged positions over 24 hours.
What’s the significance: The sell-off hammered AI-related tokens and memecoins hardest, made worse by a broader tech stock downturn sparked by a new, cost-slashing AI model that rattled investor confidence.
Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
Key details:
- $850 million in crypto positions liquidated, with 85% of losses being long positions.
- Bitcoin fell 5.7% up to below $98,000. Ether, Solana, and even Dogecoin dropped around 10% as well.
- The broader AI category of tokens went down 20% while memecoins declined by 11%, Coingecko reported.
The numbers:
- Liquidations breakdown (24h):
- Long positions: $613M (72% of total).
- Short positions: $162M.
- Largest single trade: A $12.97M Bitcoin liquidation on Binance.
- Top casualties (24h):
- BTC: $155.94M liquidated.
- ETH: $102.33M.
- SOL: $29.27M.
- Exchanges hit hardest:
- Binance: $34.18M in 4-hour liquidations (91.7% shorts).
- OKX: $14.57M (80% shorts).
What’s happening?
- Nvidia shares fell 7% premarket after Chinese AI startup DeepSeek unveiled a cost-efficient rival to Western models. This rattled the tech and crypto’s AI sector.
- Trump-themed tokens TRUMP (-17%) and MELANIA sank, while Fartcoin plummeted 23%.
- Bitcoin’s post-inauguration rally above $109,000 reversed as Trump’s pro-crypto regulatory push enters a “wait-and-see” phase.
What’s next?
This article is published on BitPinas: Quick Take: Bitcoin Plunge Triggers $850M Crypto Liquidation Spree
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