Hyperliquid Triggers $150 Million Wave of Crypto Long Liquidations Amid Bitcoin Dip

On January 8, nearly $150 million in leveraged long positions across cryptocurrencies were liquidated in just one hour due to a decline in Bitcoin prices. This liquidation event contributed to total daily liquidations exceeding $464 million, impacting over 137,000 traders.

Key Takeaways

Approximately $150 million in crypto long positions were liquidated in just one hour on January 8.
Bitcoin had the largest share of liquidations at $66.53 million, followed by Ethereum at $33.78 million.
The Hyperliquid exchange recorded the highest liquidations, with a notable single order of $3.63 million.
Total crypto liquidations for the day reached $464.44 million, affecting more than 137,000 traders.
The broader cryptocurrency market saw a 2.19% decline during this period.

Bitcoin, Ethereum and XRP longs liquidated in $150m cascade.

Liquidations in Crypto Surpass $150 Million

On January 8, a staggering $150 million in leveraged cryptocurrency long positions were abruptly liquidated within just one hour. This event was triggered by a drop in Bitcoin prices, as reported by market data.

During this hour, about $88.23 million in long positions were liquidated around 7:00 a.m. UTC, followed by an additional $57.02 million liquidated by 8:00 a.m. The Hyperliquid exchange stood out with the largest volume of liquidations, totaling $45 million, which included a remarkable single liquidation order worth $3.63 million.

In the last 24 hours, total cryptocurrency liquidations surged to $464.44 million, impacting over 137,000 traders. Bitcoin accounted for a significant portion of these liquidations, with $66.53 million, which is nearly double the $33.78 million liquidated in Ethereum.

This wave of liquidations coincided with substantial daily net redemptions totaling $486 million from U.S. spot Bitcoin exchange-traded funds (ETFs) the previous day, representing the largest single-day outflow since November 20, according to ETF data.

Bitcoin Bitcoin experienced a decrease of 1.7% on the daily chart, while Ethereum saw a decline of 2.8%. Meanwhile, XRP XRP recorded over $6 million in liquidations during the same hour and dipped by 6.8%.

Overall, the broader cryptocurrency market reflected a 2.19% decline in value during this timeframe, according to market analysis.