On Saturday evening, BTC fell below $76,000.
Saturday’s carnage has only intensified in the past few hours, with Bitcoin just plummeting to $76,000 for the first time since the first tariff threat last April.
As a result, the cryptocurrency, which was trading at more than $90,000 on Wednesday, expanded its massive losses to nearly $15,000 in just a few days.
The flash crash occurred when a single entity was liquidated for $1 billion, according to Kovisi Letter data.
BREAKING: Bitcoin falls -$3,000 in 5 minutes as a massive leveraged long position worth $1 billion was liquidated at 1:43 PM ET. pic.twitter.com/T3RwBdr17Q
— Kobeissi Letter (@KobeissiLetter) January 31, 2026
CoinGlass reports different data at the time of this article. This shows that the single largest liquidation position occurred in HyperLiquid, with a value of a whopping $222 million. This involved the ETH-USD pair.
The total amount of destroyed positions is rapidly increasing to more than $2.5 billion each day. Almost all of them occurred within the last 12 hours. Unsurprisingly, longs accounted for the lion’s share, with $2.41 billion of long positions extinguished in the past 24 hours.
The plummeting price of Bitcoin to $76,000 meant that Strategy’s massive BTC position briefly went into the red for the first time in more than two years. Nevertheless, the cryptocurrency has rebounded slightly from its multi-month lows and now sits around $78,000, with the company’s assets once again making small gains.
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Breaking news: MicroStrategy, Inc. $MSTRIf Bitcoin falls below $76,000, the Bitcoin position will officially turn red. pic.twitter.com/IRZjYzJS8H
— Kobeissi Letter (@KobeissiLetter) January 31, 2026
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