Crypto Market Crash: BTC, ETH, XRP Trigger $1.7B Liquidations

Crypto market liquidations have soared past a massive $1.72 billion in the last 24 hours. Bitcoin and major altcoins like Ethereum, XRP, and Solana fell 6–7%.

Their crash followed a sharp rout in the gold and silver rally. The sentiment around digital assets is turning from bad to worse amid consistent underperformance.

Crypto Market Liquidations Surge $1.7 Billion

Amid the broader correction in the cryptocurrency market, liquidations have soared all the way to $1.7 billion. Per the data from Coinglass, 276,500 traders have been liquidated in the last 24 hours. Of these, $1.62 billion alone is in long liquidation.

As shown in the image above, Bitcoin contributes the most with $787 million liquidated in the last 24 hours. The rest of the $1 billion liquidation has been spread across the top altcoins.

Blockchain analytics firm Santiment noted that the crypto market is seeing heightened uncertainty as traders debate the recent Bitcoin price dip to $82,000. Some believe that the pullback across major cryptocurrencies presents a buying opportunity.

At the same time, precious metals like Gold and Silver also saw a major correction. The spot Silver price has taken a dip under $100/oz. On the other hand, US equities also saw a strong selloff. However, cryptocurrencies saw the sharpest fall among all asset classes.

Will Money Come From Precious Metals to the Crypto Market?

Amid the global macro uncertainty, precious metals like Gold and Silver took the charge. So far in January 2026, both metals have staged more than 30% gains. However, Bitcoin and the crypto market have been watching from the sidelines.

During the CNBC interview, Tom Lee spoke about gold and silver. He said their recent strength should not hurt cryptocurrencies, and argued that both assets can rise together. He said that during periods of macro stress, precious metals move first.

Lee said metals tend to react early to US dollar weakness, dovish central bank signals, and rising global uncertainty. However, crypto assets follow later once the market position resets.

According to Lee, Bitcoin rarely leads during the initial phase of liquidity repair, instead gaining momentum once financial pressures ease.

Cathie Wood said the recent surge in gold prices may be nearing exhaustion. Wood said that gold has more than doubled over the past two years, pushing valuations into territory associated with macro stress.

However, she highlighted a key difference in the current cycle. In previous episodes, either the money supply was contracting or gold prices were fixed.

Today, she said, gold is rising even as the money supply is expanding. Wood suggested the current gold rally could be closer to its peak than widely assumed.

Bitcoin Long-Term Holders Selling

On-chain analytics firm Glassnode said long-term Bitcoin holders continue to act as net sellers. This has led to a steady selling pressure on BTC.

According to the firm, long-term holders sold heavily in recent weeks. They distributed over 12,000 BTC per day on average. In total, they offloaded 370,000 BTC in the past 30 days.

The firm also noted that Bitcoin miners are consistently transferring BTC to exchanges. This indicates ongoing net outflows. This miner distribution is adding further structural selling pressure and contributing to continued weakness in Bitcoin’s price.

Data from Santiment shows social media sentiment toward Bitcoin has turned sharply negative. The bearish mood has surged to its highest level of the year. This reflects growing concern among traders and investors about the market’s direction.

The analytics firm reported rising trader anxiety. They said fear, uncertainty, and doubt surged after Bitcoin dropped to about $84,200. This marked its lowest level since November 21. This shows heightened anxiety in the overall crypto market.