$426,300,000 in Bitcoin and Crypto Liquidated As BTC Price Breaks Above $94,000

Crypto traders using leverage to bet on a Bitcoin price drop are getting hammered as a new week begins.

In the last 24 hours, $426.3 million in leveraged crypto bets have been liquidated, according to the market data tracker CoinGlass.

The vast majority of the liquidations hit traders going short, with total short liquidations hitting $346.1 million.

BTC is leading the volume with $227.96 in total liquidations in the last day, followed by Ethereum (ETH) with $73.33 liquidated and Solana (SOL) with $13.41 liquidated.

Bitcoin and the crypto markets have been steadily moving up since the start of the new year.

BTC is up from about $87,500 at the start of the year to $94,312 at time of publishing.

Crypto trader and analyst Michaël van de Poppe tells his 817,000 followers on X that BTC needs to hold above the $90,000 range to solidify the gains.

“Slowly, but surely, the momentum comes back into the markets. Great movements.

There’s one crucial level which must hold: the area around $90,000-$91,000 (or the 21-Day MA). If that holds and a higher low is established, we’re in for a test at $100,000.”

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