Over $240 million erased from crypto traders in 24 hours

More false rumors about the Bitcoin spot ETF approval moved the cryptocurrency market in the last 24 hours. The volatility sent Bitcoin (BTC) price up and down on January 9.

Notably, Bitcoin traded as high as $47,975 and as low as $45,000 in the same hourly candle at 09:00 pm (UTC). This happened following a sequence of posts by the Securities and Exchange Commission (SEC) on X (formerly Twitter).

In this context, 69,410 traders were liquidated for a total of $241.94 million liquidations by press time. $141.44 million came from long positions, betting in a bullish outcome, while $100.50 million from bearish short-sellers.

Liquidation Heatmap. Source: CoinGlass

Bitcoin (BTC) liquidations and price analysis

The volatility liquidated over $98.96 million worth of positions for Bitcoin alone. Particularly erasing $61.91 million (62.5%) of longs and $37.05 million (37.5%) of shorts.

Bitcoin (BTC) liquidations. Source: CoinGlass
Cryptocurrency

Will the SEC investigate itself after the Bitcoin ETF fiasco?

Cryptocurrency

Will MicroStrategy stock suffer from a Bitcoin ETF approval?

Cryptocurrency

Here are the Bitcoin ETFs with the lowest fees

Cryptocurrency

Record-breaking year for crypto payments in 2023 - CoinGate report

Cryptocurrency

‘Rich Dad’ R. Kiyosaki says Bitcoin will shoot up to $150K after ETF

In the meantime, Bitcoin just started liquidating short positions, currently trading at $46,430. These liquidations can be observed on CoinGlass’ liquidation heatmap, which also illustrates the aforementioned volatility event, erasing positions up and down.

BTC Liquidation Heatmap. Source: CoinGlass

Interestingly, no relevant liquidity pools are left in BTC’s liquidation heatmap amid the market’s waiting on the SEC’s decision. Most cryptocurrencies, including Bitcoin, register a low 24-hour exchange volume, insufficient to form meaningful pools.

In closure, further price action will directly depend on what Gary Gensler, President of the SEC, says about recent events. Regulators may choose to delay the Bitcoin ETF decision one more time. Nevertheless, if the decision is made today, an approval would probably drive BTC upwards, while a rejection would do the opposite.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Comments

Post a Comment

Popular posts from this blog

Hex Trust Integrates sBTC via SIP-010 to Enable Institutional Bitcoin DeFi Access

Hong Kong, June 11, 2025 – Coinscribble by Coinbound / Hex Trust , a leading digital asset financial institution specializing in custody, staking, and markets services, has announced support for SIP-010, the fungible token standard on Stacks, the leading Bitcoin L2. This move allows institutional clients to securely store, manage, and deploy SIP-010 tokens – including sBTC, a leading Bitcoin-backed asset for DeFi – within Hex Trust’s institutional-grade custody. sBTC Brings Programmability to Bitcoin sBTC transforms Bitcoin into a fully programmable asset, allowing investors to: Earn bitcoin yield Access on-chain lending Participate in decentralized finance All this is achieved while maintaining the security and transparency of Bitcoin. Driven by these innovations, sBTC has rapidly emerged as the asset of choice for institutions and DeFi protocols. Recent demand for sBTC is underscored by: A series of three cap raises, each f...
Read more

Hacker Who Drained $53,000,000 From DeFi Project Hits 93.5% Gain on Loot Amid Ethereum Rally: Onchain Data

Image
A crypto analytics firm says a hacker that drained tens of millions of dollars from a decentralized finance (DeFi) platform has recorded massive gains on his stash after Ethereum’s (ETH) latest rally. In a new thread on X, Lookonchain says that the bad actor who exploited the DeFi protocol Radiant Capital (RDNT) made away with massive profits after converting his stash of stolen goods to Ether. “The Radiant Capital hacker turned the stolen $53 million into $102.54 million by trading ETH, a profit of $49.5 million (+93.5%). Ten months ago, the hacker stole $53 million from Radiant Capital and swapped it all for 21,957 ETH. Recently, he began selling ETH for profit, selling 9,631 ETH ($43.94 million) at an average price of $4,562, leaving 12,326 ETH ($58.6 million).” Source: Lookonchain/X Ethereum is trading for $4,555 at time of writing, a 3.3% decrease during the last 24 hours while RDNT is valued at $0.0220, a 10% decrease on the day. Previo...
Read more

XRP Price Prediction: Why The Path to $10 Is Now Wide Open

Image
Ripple (XRP) is now working towards a new price angle. While the token has long been trading at $2 to $3 levels, XRP is yet to hit critical high points of $4 and $5, which may eventually help the asset gain wider momentum. With the US SEC vs XRP wrapped up, the token is now free to pursue all financial verticals, taking the charge to hit ambitious double-digit price ranges. Here’s when XRP can finally explore the $4 to $10 price range, with analysts weighing in on technical aspects helping the asset reach the aforementioned price spots. Also Read: Ripple Just Hit 1 Catalyst: 2 More Could Send XRP Price Soaring Analyst’s Opinion: XRP’s Path to $10 Source: Pixabay XRP price prediction is now becoming much more versatile. The older repetitive $2 to $3 price ranges have now started to mellow down, with analysts coming up with new, bold price predictions. For instance, Crypto King, a notable crypto analyst, has predicted a new price path hitting $7, which may soon become a reality. “XR...
Read more