Bitcoin pulls back to $120K, sparking $120M in liquidations
Key Takeaways
- Bitcoin’s brief dip to $120K triggered over $120 million in liquidations, led by Bitcoin, Ethereum, and Solana positions.
- Analysts describe the pullback as a healthy correction before potential continuation of the uptrend.
Bitcoin pulled back to the $120,000 level today, triggering over $120 million in liquidations across major crypto assets within the past hour.
Roughly $100 million came from long positions and $20 million from shorts, with Bitcoin leading the liquidations at $67 million. Ethereum and Solana followed with $19 million and $14 million respectively.
Analysts view the recent declines as a necessary correction to cool off speculative excess and reset leverage conditions after Bitcoin’s rapid run-up.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Crypto Market Drops Again: Why the Entire Crypto Market Down Today
Bitcoin Updates Today: Institutional Move Toward Bitcoin ETFs Marks Crypto’s Entry Into the Mainstream
- BlackRock's IBIT Bitcoin ETF saw $42.8M inflows, outpacing competitors as institutional confidence in crypto rebounds amid macroeconomic uncertainty. - CoinShares withdrew its staked Solana ETF filing due to incomplete transactions, highlighting regulatory hurdles for yield-bearing crypto products despite $369M in November inflows to similar offerings. - Binance launched Prestige, a $10M+ AUM service for ultra-wealthy clients, reflecting growing institutional adoption as 50% of wealth managers now priori
Stablecoins Move Closer to Widespread Adoption Through Self-Custody Visa Card Breakthrough
- Truther launches non-custodial USDT Visa card in El Salvador on Jan 29, 2025, enabling direct spending from self-custody wallets via real-time blockchain deductions. - The card eliminates custodial services and preloading, offering 2% conversion fees and IOF tax waivers, targeting Brazil's crypto market while preserving full private key control. - Partnering with Visa, Truther aims to expand stablecoin adoption in Latin America, with plans to integrate local stablecoins and extend Swapix API to Argentina
Trending news
MoreCrypto prices
More
