Bitcoin’s drop to $75,700 and steep declines in ETH, Solana, gold, and silver triggered over $2.5B in long liquidations amid worsening geopolitical and macroeconomic risks.
On January 31, Bitcoin fell 7.6% in 24 hours to $75,700, dropping below the $78,000 mark. Ether (ETH) plunged 12.28% to under $2,400 and Solana (SOL) fell 13.74% below $100. Gold declined 15.7% while silver dropped 37%. The sharp selloff triggered $2.522 billion in liquidations, with the majority involving long positions, against a backdrop of heightened geopolitical and macroeconomic concerns.