SINGAPORE, Jan 20, 2026, 16:43 (SGT)
- Bitcoin’s drop sparked roughly $874 million in liquidations over the last 24 hours, hitting long positions hardest.
- Traders marked $92,000 as a key near-term level, eyeing $87,000 and around $80,500 should selling intensify.
- Fresh U.S.-EU tariff threats over Greenland have intensified risk aversion, sending gold and silver prices higher.
Bitcoin’s slide toward $93,000 sparked a massive purge of leveraged bullish bets, wiping out roughly $874 million in crypto positions in the last 24 hours, according to CoinGlass data reported by NewsBTC. Long positions — wagers on a price increase — made up about $788 million of that total.
The move is grabbing attention as traders treat tariff news like a fresh macro shock after weeks of sideways action. U.S. cash markets are set to reopen Tuesday following Monday’s holiday. Some chart watchers are openly calling this a potential “liquidity grab”—trader jargon for a quick price move targeting stop orders—near the 2026 open at about $87,000 and the range floor around $80,500. “Bitcoin and Gold trendlines are literally on top of each other,” said network economist Timothy Peterson, suggesting the two could still align after following different paths. TradingView
Bitcoin dropped to $92,234 early on Jan. 20 before bouncing back to trade near $92,721, Moneycontrol reported. “Bitcoin is testing whether the $92,000 area will hold as support,” said Riya Sehgal, research analyst at Delta Exchange, noting that broader macro events are now driving market sentiment. Moneycontrol
The selloff came after fresh tariff threats from U.S. President Donald Trump, who pushed for the sale of Greenland to the United States. Investors fled to safe havens, shying away from risk assets. Gold surged to a record $4,689 an ounce Monday, while silver reached $94.08, according to The Guardian. “Markets have become used to Taco from Trump,” said Jefferies chief economist Mohit Kumar, referring to the Wall Street acronym for “Trump always chickens out” on tariffs. The Guardian
Reuters highlighted a renewed surge in the “Sell America” trade, as investors fled U.S. assets amid concerns over policy shocks linked to Greenland. Tony Sycamore, a market analyst at IG, noted that “investors were dumping dollar assets on fears of prolonged uncertainty.” Bitcoin slipped 2.2% to $90,889 in Tuesday’s Asian session, while ether dropped 2.9% to $3,117, according to Reuters. Reuters
A Binance News post reported bitcoin dropped nearly 3.6% in just a few hours, sliding from about $95,450 to under $92,000 before bouncing back slightly. Long liquidations topped $750 million in four hours, with total 24-hour liquidations exceeding $860 million, according to CoinGlass. “Bitcoin still behaves like a high-beta technology asset,” said Andri Fauzan Adziima, research lead at Bitrue, referring to assets that move more sharply than the broader market. Jeff Mei, COO at BTSE, noted, “This time the tariffs target some of America’s closest allies.” Binance
On the derivatives front, a post from the crypto account EyeOnChain on Binance Square highlighted a spike in liquidations at Hyperliquid during the early hours. According to the account, Hyperliquid experienced roughly $235 million in liquidations over just four hours. The platform’s open interest—the total value of outstanding contracts—stood at about $9.9 billion, with around 155,000 active traders.
Liquidations often escalate a routine selloff into a steeper decline as exchanges automatically close positions when losses exceed margin limits, injecting market orders into an already declining market. This feedback loop usually targets the busiest side of the trade first.
The next move might depend more on whether tariff threats turn into actual policy than on crypto headlines. How stocks perform in Wall Street’s first full session after the holiday will also be key. If Washington and Brussels ease off, leverage could surge again — and with it, prices.
Bitcoin’s drop has pulled major tokens down alongside it, pushing investors toward traditional safe havens like gold and silver. This episode underscores once again that crypto behaves like a risk asset whenever geopolitical news dominates the headlines.
