Hyperliquid [NC] liquidations spiked on January 8 after Bitcoin BTC $91 079 24h volatility: 0.8% Market cap: $1.82 T Vol. 24h: $42.69 B fell below $90,000.
This triggered a fast market shakeout that erased about $145 million in leveraged long positions across major exchanges within two hours.
Hyperliquid Liquidations Take Center Stage in Bitcoin Pullback
A sharp price move on January 9 set the tone for the session. CoinGlass data showed two liquidation waves within one hour. Around 07:00 UTC, about $88.23 million in longs were cleared.
A second wave followed near 08:00 UTC, wiping out another $57.02 million as Bitcoin briefly slipped under key support.
Hyperliquid liquidations made up the largest share of the damage. The exchange logged close to $45 million in forced closures during the sell-off.
It also hosted the biggest single order of the period, valued at $3.63 million.
During that hour, Hyperliquid liquidations accounted for nearly one-third of total losses, showing how fast leverage unwound on one venue.
Attention also stayed on HYPE. The platform remains a major hotbed for whale activity. Per Lookonchain data, one whale logged 8.09 million USDC on the platform to buy 59,458 SOL, indicating continued strong activity and potential upside for HYPE.
Whale 0xDAeF deposited 8.09M $USDC into Hyperliquid 4 hours ago and placed limit orders to buy 59,458 $SOL($8M) at prices between $133.88–$135.https://t.co/xxRoWbcFFc pic.twitter.com/SRPMt79Luo
— Lookonchain (@lookonchain) January 9, 2026
Charts shared by analyst Ali Martinez showed a bearish flag on the 12-hour timeframe after a drop from the $36 area.
Price failed to hold near $28, keeping sellers active and risk elevated. Traders watched closely for direction after Hyperliquid liquidations eased later on.
Meanwhile, prominent Hyperliquid whale James Wynn closed his Bitcoin trade to take profits. Wynn then shifted into Ethereum while still holding a profitable PEPE long position.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
