January 20 Flash Crash: $1.08 Billion Liquidated, 180,000 Traders Affected

OnChainDetective · 2026-01-21T05:40:10+00:00

On January 20th, the market experienced a deleveraging shock, with over $1.08 billion in long positions liquidated, affecting 182,000 traders. Bitcoin and Ethereum futures contracts were severely impacted, with technical weakness intensifying selling pressure. Global liquidity was tight, risk assets were affected, and funds rapidly withdrew from the cryptocurrency market.

OnChainDetective

2026-01-21 05:40:10

Abstract generation in progress

【Crypto World】On January 20th, the market experienced a fierce deleveraging shock. Over $1.08 billion in long positions were forced to close, affecting 182,000 traders. Bitcoin and Ethereum futures contracts bore the brunt—there was a $13.52 million Bitcoin position on a certain platform that was unable to escape.

Technical weakness intensified this storm. The RSI of altcoins has already fallen below the 50 midline, indicating intense selling pressure. Even more painfully, Japanese government bond yields hit new highs, directly increasing the cost of cross-border arbitrage trading. Global liquidity immediately tightened, with risk assets bearing the brunt. Naturally, the cryptocurrency market was not spared—funds rapidly withdrew from this higher-risk territory.

BTC1,36%

ETH3,11%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

20 Likes

Reward
20
7
Repost
Share

Comment

Add a comment

PretendingToReadDocs

· 01-24 05:38

Another day like this, a leverage explosion scene...

180,000 people buried with it. I just want to ask, who is still all-in?

RSI breaking 50, it’s just like this, you should have run long ago.

View OriginalReply0

SelfCustodyBro

· 01-24 02:39

It's the same massacre again, with 180,000 people sacrificed.

View OriginalReply0

OnchainSniper

· 01-21 06:05

Damn, another massacre... 180,000 people sacrificed, these leveraged players are really tired of living.

View OriginalReply0

MetaMisfit

· 01-21 06:02

Another massacre, 180,000 people buried together—truly incredible

View OriginalReply0

BearMarketSage

· 01-21 05:55

Another leverage liquidation scheme, 180,000 people sacrificed, truly incredible

View OriginalReply0

GlueGuy

· 01-21 05:50

Once again, it's a massive crash. I literally panicked and sold off in a daze that day.

View OriginalReply0

4am_degen

· 01-21 05:50

Another wave of bloodshed, 1.08 billion dollars just gone, luckily I didn't leverage up that day

---

180,000 people liquidated together, this scene is truly a bit desperate

---

Japanese government bond yields are acting up again, this chain reaction of global liquidity tightening really caught us off guard

---

RSI broke below 50? Indicates the bottom hasn't been reached yet, keep pushing down

---

The crypto world is just a casino, a position of 13.52 million instantly wiped out, this is real speed and passion

---

Why are there still people daring to go long at this time? Are they out of their minds?

---

The time when the most people are losing money is often the bottom, could this time be the same...

---

Damn, another global capital withdrawal, altcoins are hit hardest, heartbreaking

View OriginalReply0