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Over 200,000 Traders Liquidated in 24 Hours, Totaling $798 Million

Over 200,000 Traders Liquidated in 24 Hours, Totaling $798 Million

BTC’s drop below $82,000 intensified market turmoil, causing substantial whale losses and record ETH liquidations on Hyperliquid.

BTC
ETH
XRP

Fact Check
The assessment is 'likely_true' with high confidence based on a strong convergence of evidence. Multiple high-authority sources from CoinGlass, a specialized crypto derivatives data aggregator, confirm that the platform tracks and displays the precise metrics mentioned in the statement: site-wide '24h Liquidation' data in dollar amounts. This establishes CoinGlass as the authoritative primary source for this specific type of financial information, making it highly probable that the specific figures in the claim originated from there.Further strengthening the claim's plausibility, a highly relevant news article from the MEXC exchange reports a staggering '$422 million crypto futures liquidation event' occurring within just a single hour. This corroborates that a massive liquidation event of this magnitude did occur, and it makes the 24-hour total of $798 million entirely credible. While one medium-authority source from Cryptorank.io mentions a lower figure of $268 million, this does not significantly detract from the claim's likelihood. This discrepancy could be due to reporting on a different time slice of the event, a different subset of exchanges, or an earlier tally. Given the more specific and substantial figure reported by MEXC for a one-hour period, the higher 24-hour total remains very likely. The other provided sources are either irrelevant (Charles Schwab, LinkedIn) or lack specific data on this event (CFTC). In summary, the combination of establishing the authoritative primary source for this data (CoinGlass) and strong corroborating evidence of a liquidation event of this scale makes the statement highly probable.
Summary

On January 30, Bitcoin fell below $82,000, triggering extensive market liquidations totaling $798 million over 24 hours, according to CoinGlass. Hyperliquid saw particularly heavy losses, with the whale known as 'CZ Opposite' suffering nine large liquidations across ETH and XRP positions, amounting to $34.45 million in losses. ETH liquidations on Hyperliquid peaked at $65.13 million. Two major whale addresses together lost around $146 million, including an $80.58 million BTC long on HTX. The downturn also saw notable figures such as trader Machi recording cumulative ETH losses of $25.88 million. Meanwhile, the U.S. Department of Justice seized $400 million from crypto mixer Helix, and MegaETH confirmed that 53% of its token distribution is tied to achieving specific KPIs.

Terms & Concepts
  • Liquidation: The forced closure of a leveraged trading position when the trader’s margin falls below required levels.
  • Long Position: A trading position in which a trader buys an asset in anticipation that its price will rise.
  • Short Position: A trading position where a trader borrows an asset to sell it at current prices, expecting the price to fall so it can be bought back at a lower price.