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Breaking News: XRP Will Skyrocket Beyond $18: Analyst Suggests 800% Growth Potential In 2026
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Breaking News: XRP Will Skyrocket Beyond $18: Analyst Suggests 800% Growth Potential In 2026

$460M Crypto Longs Squeezed As Bitcoin Slips Below $90,000

Keshav Verma
Keshav Verma
Last Updated: January 9, 2026 4:00 am
2 mins read
Bitcoin

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Data shows the crypto derivatives market has faced a fresh wave of liquidations as Bitcoin and other assets have gone through a retrace.

Crypto Market Has Seen Liquidations Of More Than $462 Million

According to data from CoinGlass, a notable amount of liquidations have occurred in the crypto derivatives market over the past day. “Liquidation” refers to the forceful closure that any open contract undergoes after it has amassed losses of a certain percentage specified by the platform.

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A mass amount of simultaneous liquidations can occur when the asset’s price observes a sharp price swing, not allowing investors the time to close their positions. The risk of this happening can increase depending on how much leverage traders are opting for.

The trigger for the derivatives flush in the past day has been a downward move across tokens in the digital asset sector, which took Bitcoin to a low under $89,600.

Below is a table that shows the numbers involved in this liquidation event.

Bitcoin Liquidations
Longs seem to have been hit the hardest in this flush | Source: CoinGlass

In total, the crypto market has witnessed over $462 million in liquidations during the last 24 hours, with longs dominating most of the flush. More specifically, bullish bets made up for $418 million of the positions involved, representing more than 90% of the total.

The large amount of liquidations could indicate that the recovery in Bitcoin above $94,000 lured traders into opening fresh longs, which then ended up getting caught out by the price plunge.

In terms of the symbols, the largest contributor to the liquidation event has been BTC with $132 million in positions involved, while Ethereum hasn’t been too far behind with a flush of $116 million.

Bitcoin & Other Cryptos
The heatmap related to the latest crypto market liquidations | Source: CoinGlass

Interestingly, while the top two have been predictable, the third place hasn’t been occupied by the usual suspects this time. As the above heatmap displays, contracts related to Zcash (ZEC) have been caught up in liquidations of $24 million.

The asset managing higher liquidations than the likes of XRP and Solana could be down to the fact that it has seen a notably sharper drop over the last 24 hours.

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The latest liquidation squeeze has come as the futures market has been witnessing a re-expansion of Open Interest, as highlighted by Glassnode in its latest weekly report.

Bitcoin Open Interest
The data for the BTC Open Interest over the past year | Source: Glassnode’s The Week Onchain – Week 1, 2026

The bearish price action between October and November had caused a massive amount of liquidations and forced traders to pull back on risk, resulting in the Open Interest taking a significant hit. Recently, the metric has seen a turnaround, implying investors have gradually been building up positions again.

BTC Price

At the time of writing, Bitcoin is trading around $89,500, down 2% over the past day.

Bitcoin Price Chart
The price of the coin has retraced its recovery | Source: BTCUSDT on TradingView
Featured image from Dall-E, Glassnode.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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