Hyperliquid leads $150m crypto long-liquidation wave as BTC dips

Nearly $150m in leveraged crypto long positions were liquidated in one hour as Bitcoin, Ethereum and XRP fell, with total daily liquidations topping $464m.
Summary

• Around $145m in leveraged crypto longs were liquidated in two hourly waves, with Hyperliquid handling the largest single $3.63m order.
• Total 24h crypto liquidations hit about $464m across 137k+ traders, led by $66.5m in Bitcoin and $33.8m in Ethereum positions.
• BTC fell 1.7%, ETH 2.8% and XRP 6.8% as the broader crypto market lost 2.19% in value alongside big ETF redemptions the previous day.

Nearly $150 million in leveraged cryptocurrency long positions were liquidated within a single hour on Thursday, January 8, as Bitcoin prices declined, according to market data.

Liquidations in crypto top $150m

Approximately $88.23 million in long positions were liquidated at around 7:00 a.m. UTC, followed by approximately $57.02 million at 8:00 a.m., the data showed.

The Hyperliquid cryptocurrency exchange recorded the highest number of liquidations at $45 million, including the single largest liquidation order valued at $3.63 million, according to the figures.

Total cryptocurrency liquidations reached $464.44 million in the past 24 hours, affecting more than 137,000 traders, the updated data indicated.

Bitcoin accounted for $66.53 million in liquidations, nearly double the $33.78 million recorded by Ethereum, according to the figures.

The liquidations followed total daily net redemptions of $486 million from U.S. spot Bitcoin exchange-traded funds on the previous day, marking the largest single-day outflow since November 20, according to ETF data.

Bitcoin (BTC) traded down 1.7% on the daily chart, while Ethereum (ETH) declined 2.8%. XRP (XRP), which recorded more than $6 million in liquidations during the same hourly period, fell 6.8%.

The broader cryptocurrency market declined 2.19% in value over the period, according to market data.