BTC fell below $76,000 on Saturday evening.
As such, the cryptocurrency extended its massive losses to nearly $15,000 in just a few days, while trading above $90,000 on Wednesday.
The latest sudden crash occurred when a single entity was liquidated for $1 billion, according to data from the Kobeissi Letter.
BREAKING: Bitcoin falls $3,000 in 5 minutes after a huge leveraged long position worth $1 billion was liquidated at 1:43 PM ET. pic.twitter.com/T3RwBdr17Q
— The Kobeissi Letter (@KobeissiLetter) January 31, 2026
CoinGlass reports various data as of the time of writing. This shows that the largest liquidated position took place on Hyperliquid and was worth a whopping $222 million. It concerned the ETH-USD pair.
The total value of the destroyed positions has risen daily to more than $2.5 billion. Almost everything happened in the last twelve hours. Naturally, long positions account for the largest share, with $2.41 billion worth of such positions wiped out in the last 24 hours.
Bitcoin’s price crash to $76,000 meant that Strategy’s massive BTC position was briefly in the red for the first time in more than two years. Nevertheless, the cryptocurrency has recovered somewhat since multi-month lows and is now around $78,000, putting the company’s stock back somewhat in the green.
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BREAKING: MicroStrategy’s, $mstrerBitcoin position officially turns red if Bitcoin falls below $76,000. pic.twitter.com/IRZjYzJS8H
— The Kobeissi Letter (@KobeissiLetter) January 31, 2026
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