2026-01-19 02:27:45

The overall cryptocurrency market weakened today, with Bitcoin and mainstream coins experiencing significant pullbacks, triggering a chain reaction.

Bitcoin rapidly plummeted from the weekend's $95,000-$95,500 range, breaking below the key $93,000 level, with the lowest touching around $91,900-$92,500. The 24-hour decline ranged from 2.5% to 3.5%. More seriously, the total liquidation in the global derivatives market over the past day reached $680 million, with long positions accounting for the majority, affecting over 230,000 traders.

The immediate cause of this sharp decline was excessive leverage among long positions in the derivatives market over the weekend, which triggered a chain of forced liquidations once prices started to fall. Altcoins like Solana and ADA suffered even steeper declines, with SOL dropping over 6% at one point. This was a typical long squeeze combined with profit-taking, and short-term market panic was evident.

However, the real underlying driver comes from macro factors. Last weekend, Trump announced plans to impose new tariffs on certain European countries starting February 1st (due to the Greenland dispute). European countries immediately responded strongly, warning that this could lead to a "dangerous downward spiral." As a result, risk assets generally came under pressure, with US stock futures and Asian markets opening lower. As a high-beta asset, the crypto market was hit first, with Bitcoin dropping nearly $4,000 in just two hours.

Interestingly, gold and silver instead surged and hit new highs, indicating that smart money has quietly started shifting towards safe-haven assets.

BTC-2,08%

SOL-6,13%

ADA-6,34%

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TokenomicsTherapist

· 6h ago

Here we go again, the bulls have triggered another stampede. This time, the number of people who got caught off guard broke records. Trump's move directly treated cryptocurrencies as "high beta assets" to dump, while gold and silver are secretly laughing. $680 million liquidation, this is the textbook example of "smart money" harvesting profits. A $4,000 drop in two hours shows that in the face of bad news, all technical indicators are just paper tigers. SOL dropping 6% is nothing; the real show is about to begin.

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GasWhisperer

· 6h ago

mempool's getting nasty rn... those 23 lakh liquidations tho, classic leverage trap. watching the gwei patterns spike while btc gets dunked is *chef's kiss* — macro chaos always reveals who actually understands timing.

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LuckyBlindCat

· 6h ago

Once again, it’s falling. Is this time the fault of tariffs? I think it’s just that the bulls are too greedy, leverage is turned up to the max, and one poke is enough to break it. Gold has hit a new high again. I should have listened to advice and switched entirely to gold. Now I regret not doing so earlier. 230,000 people got liquidated. The big players’ tactics are truly top-notch, feeding retail investors to the brim. A $4,000 drop in two hours? How much leverage would it take to produce this effect? Honestly, it’s a bit outrageous. I just want to know if those who are now bottom-fishing will regret it. This is just the beginning. As soon as the news of tariffs comes out, the market crashes. It feels like crypto is really too easily manipulated by macro factors. SOL dropped over 6%, but that’s nothing. My coins have already been halved ten times, I’m laughing till I cry. Wait and see, the performance of gold and silver... Why does it feel like the truly smart money has already run away?

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PaperHandsCriminal

· 6h ago

Here we go again, same old trick. I'm not surprised by the long leverage explosion; what surprises me is that I got cut again. Just two hours, four thousand dollars gone? Bitcoin's speed is incredible; I didn't even have time to react to my stop-loss order. Gold rises, coins fall, smart money has already run, and we're still here picking up the bag.

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MEVEye

· 6h ago

It's Trump causing trouble again. This time, the Greenland tariffs directly hit the crypto market, truly an innocent bystander. 230,000 longs liquidated. Now that's a real "stampede." Leverage traders should wake up. Gold and silver are taking off, while we're still in hell. The gap is incredible. $4,000 wiped out in two hours. Crypto always follows macro trends, no way around it. Should have cut positions over the weekend. Now we're just holding on and watching the weather forecast. Liquidation of 680 million. Some people were still shouting about breaking 100,000 yesterday. And now? SOL dropped over 6%, a bit harsh. Poor little coins. Smart money is fleeing to safe assets, while we retail investors are still holding on. Isn't that ironic? This macro blow is much worse than technicals. Who's to blame? It's interesting—risk assets are collapsing, and we're the worst off. Such a tough life.

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