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Crypto Market Faces Broad Weakness as Bitcoin Slips Below $113K

Crypto Market Faces Broad Weakness as Bitcoin Slips Below $113K

According to Coinglass, $290 million in crypto liquidations occurred in 24 hours, with short positions losing nearly twice as much as long positions and Ethereum leading asset-specific losses.

BTC
ETH

Fact Check
The evidence strongly supports the statement. Multiple credible sources like Barron's and Reuters from early 2025 report a broad crypto market selloff and specify Bitcoin's price at levels significantly below $113,000, including reports of it trading at $91,881 and $87,169.76.
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Summary

Coinglass reported $290 million in crypto liquidations over the past 24 hours, with $194 million from short positions and $96.62 million from longs. Bitcoin saw $61.18 million liquidated, while Ethereum accounted for $68.10 million, reflecting heightened market volatility.

Terms & Concepts
  • Liquidation: The forced closure of leveraged positions when traders fail to meet margin requirements, often triggered by rapid price movements.
  • Short Position: A trading strategy that profits when the price of an asset declines, often involving borrowing and selling the asset to repurchase it later at a lower price.
  • Long Position: An investment strategy that profits from an asset’s price increase, involving buying and holding with the expectation of future appreciation.