Bitcoin slid to a two-month low near $81,900 on Jan. 30, triggering one of the largest deleveraging events of the year as geopolitical tensions and macro uncertainty rattled crypto markets.
The sell-off wiped nearly 7% off Bitcoin’s price in a single session, dragging total crypto market capitalisation down 5.6% to about $2.88 trillion as investors cut risk exposure.
According to Coinglass data, roughly $1.7 billion in leveraged positions were liquidated, with $1.59 billion coming from long bets, marking a sharp reset in speculative positioning.
The downturn was driven by rising Middle East tensions after reports of Iranian military drills near the Strait of Hormuz, alongside concerns over US monetary policy and the potential nomination of Kevin Warsh as Federal Reserve chair.
Ethereum fell about 8% to around $2,705, while XRP dropped to roughly $1.73, with most major altcoins posting losses of 7% or more in a broad-based retreat.
Bitcoin liquidations alone totalled about $786 million, followed by $423 million in Ethereum, with the largest single liquidation order of roughly $80 million recorded on HTX.
The scale of the liquidations highlights how fragile sentiment has become, as leveraged crypto markets remain highly sensitive to geopolitical shocks and shifts in macro expectations.
At the time of reporting, Bitcoin price was $82,389.66.