Bitcoin Carnage: $322 Million Worth Longs Incinerated in One Hour
Analysis
Price Impact
HighBitcoin experienced a catastrophic flash crash, plunging from $90,600 to $84,000. this led to nearly $800 million in leveraged positions being liquidated over 24 hours, with over $300 million in longs incinerated in a single hour, signaling extreme market volatility and significant losses for bullish traders.
Trustworthiness
HighThe data is specific, citing coinglass liquidation data with concrete figures ($301.15 million in one hour, $797.91 million over 24 hours), and the event is a verifiable market occurrence reported by a reputable crypto news outlet.
Price Direction
BearishThe sudden and severe price drop, resulting in massive long liquidations, unequivocally indicates a strong bearish movement in the short term, eroding bullish sentiment and capital.
Time Effect
ShortThe event is described as a 'flash crash' and 'single, brutal hour' of trading, indicating an immediate and rapid impact on price. while aftershocks may linger, the primary severe effect was instantaneous.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The cryptocurrency market suffered a catastrophic flash crash on Thursday. The sudden Bitcoin plunge liquidated nearly $800 million in leveraged positions being liquidated over the last 24 hours. Advertisement The carnage was most severe in a single, brutal hour of trading where bulls were caught off guard. According to CoinGlass liquidation data , a staggering $301.15 million in long positions were wiped out in just 60 minutes. Longs accounted for 96% of the damage ($301.15 million). You Might Also Like Thu, 01/29/2026 - 15:32 Canadian Billionaires Says Central Banks Have No Interest in Bitcoin By Alex Dovbnya Advertisement Bullish traders with no time to react as Bitcoin plunged from highs near $90,600 toward the $84,000 support level. The liquidation cascade Over the full day, $797.91 million has been erased from the market. Of this, $690.26 million came from bullish traders who were betting on a breakout to new highs. Bitcoin (BTC) plunged 5.3% to $84,635, dragging the broader digital asset market down with it. Advertisement The single largest liquidation order of the day occurred on Hyperliquid, where a massive $31.64 million BTC-USD position was forcibly closed. #Bitcoin Price Prediction