Bitcoin Price Crashes Below $88K with Soaring Hourly Liquidations
In the last hour, over $130 million in leveraged positions were liquidated as Bitcoin's price dipped below $88,000.
Bitcoin experienced a significant drop in price, dropping to a multi-day low beneath $88,000. This sudden decline occurred after a quieter period over the weekend, where neither buyers nor sellers seemed to dominate the market.
The altcoin market mirrored this downturn, with Ethereum falling below $2,900 and Solana’s price decreasing by over 2.5% within the hour.
BREAKING: Bitcoin falls below $88,000 as $60 million worth of levered longs are liquidated in 30 minutes. A government shutdown is anticipated, and President Trump has threatened to impose 100% tariffs on Canada.
US stock market futures will open in less than 7 hours. pic.twitter.com/40GxrMdRTI
— The Kobeissi Letter (@KobeissiLetter) January 25, 2026
Analysts suggest that the price corrections could be linked to the impending US government shutdown following the Minneapolis shooting, potentially the second of Trump’s presidency, along with the tariffs he hinted at for Canada.
Recent reports indicate that if Canada decides to sign a substantial agreement with China, Trump may impose a hefty 100% tariff on Canadian goods.
In the lead-up to the weekend, Bitcoin initially seemed stable but started to decline as futures markets were about to open. It hit $87,500 after being unable to maintain above $89,000 earlier today. There has been considerable volatility across the altcoin market, affecting many cryptocurrencies including SUI, SOL, ARB, PEPE, ENA, and ADA, all of which saw declines of over 2%.
In the last hour alone, Ethereum has lost 1.5% of its value, reinforcing the market’s turmoil as traders faced significant liquidation events. Over 130,000 traders have suffered losses, with the biggest liquidation occurring on Hyperliquid, valued at $6.3 million.
Liquidation Data on CoinGlass
