Bitcoin flash crash on January 8 triggers $150 million in long liquidations within one hour

On Thursday, January 8, nearly $150 million in leveraged crypto long positions were liquidated within a single hour as Bitcoin slid below $90,000. Data shows $88.23 million in longs were cleared around 7:00 a.m. (UTC) and another $57.02 million at 8:00 a.m. (UTC), contributing to $464.44 million in total liquidations over 24 hours that affected more than 137,000 traders. Bitcoin accounted for $66.53 million in wiped positions versus $33.78 million for Ethereum, while the overall crypto market value fell from $3.21 trillion to $3.09 trillion.