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Crypto liquidations are ‘lot more’ than reported; Bybit CEO estimates up to $10B wipeout

The latest cryptocurrency market sell-off has resulted in significantly higher liquidations than initially reported, with Bybit CEO Ben Zhou estimating the total wipeout to be between $8 billion and $10 billion. This starkly contrasts with the widely cited $2 billion liquidation, which Zhou suggests is a conservative estimate due to API limitations across multiple exchanges . Real liquidations could be four-fold than reported The downturn, spurred by U.S. President Donald Trump’s latest tariff announcement , triggered widespread fears of a prolonged global trade war, sending financial markets into turmoil and prompting investors to offload risk assets, including cryptocurrencies. Early reports from CoinGlass showed that total liquidations across all assets stood at roughly $2.4 billion, with Ethereum ( ETH ) taking the hardest hit , leading the liquidation spree with $617.35 million, followed by Bitcoin ( BTC ) at $441.8 million. However, Zhou highlights that these figures significantly underrepresent real liquidation volumes due to exchange-level API restrictions. He estimates that actual liquidations across the crypto market stand ‘at least around $8 to 10 billion,’ far exceeding initial reports. According to Zhou, Bybit alone recorded $2.1 billion in 24-hour liquidations, yet CoinGlass only reported $333 million due to technical limitations on how much data feeds are pushed out per second. I am afraid that today real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 24hr liquidation alone was $2.1B, As you can see in below screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however,… https://t.co/4WLkPxTYF4 pic.twitter.com/woTOHQvNkt — Ben Zhou (@benbybit) February 3, 2025 This discrepancy, according to him, exists across all major crypto exchanges, meaning the reported $2 billion liquidation is likely just a fraction of the actual liquidation data. The Bigger picture: How severe is the crypto sell-off? While reported figures suggest a $2 billion liquidation, Zhou’s comments imply that the real market damage may be four times larger. According to crypto analyst CrypNuevo , if Zhou’s estimate of $8 billion to $10 billion in liquidations holds, the recent wipeout would surpass the combined liquidations from the COVID-19 market crash, the Terra ( LUNA ) collapse, and the FTX implosion. “To see this with perspective… that would literally be more than COVID, Luna and FTX liquidations combined together, in just 24 hours.” – CrypNuevo With liquidity concerns rising and volatility spiking, traders remain on edge, questioning whether the market can stabilize or if another wave of liquidations is on the horizon. Featured image via Shutterstock The post Crypto liquidations are ‘lot more’ than reported; Bybit CEO estimates up to $10B wipeout appeared first on Finbold . BitcoinSistemi

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Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst)

TL;DR Bitcoin (BTC) has tumbled by 10% since the start of February, with analysts warning that further declines to $80,000 or even $74,400 are possible if key support levels fail. Others suggest Trump’s tariff policies could drive demand for BTC as a hedge against inflation and currency devaluation. The Correction Might be Just Starting January was a highly successful period for the primary cryptocurrency, with its price soaring to a new all-time high of almost $110,000 shortly before Donald Trump’s inauguration. Despite the enhanced volatility in the following days, bitcoin (BTC) was trading at over $104,000 on the last day of the month. Numerous industry participants expected February to be even more fortunate. After all, it has been a historically strong month for the asset, and just two of the last 12 Februaries have ended in the red. The ongoing month also comes after a halving year, which in previous cases has resulted in double-digit gains. Contrary to the presumption, BTC did not start the month on the right foot, and in the last three days, it tumbled from around $102,000 to the local bottom of less than $92,000. In the past several hours, the bulls stepped in and pushed the valuation to the current $95,000 (per CoinGecko’s data). BTC Price, Source: CoinGecko Perhaps the most obvious factor contributing to the pullback is the macroeconomic uncertainty caused by Donald Trump’s decision to impose hefty tariffs on China, Canada, and Mexico. One person noting the wipeout in the cryptocurrency sector was the BTC proponent, using the X moniker Momin. He suggested that if Trump’s decision “keeps shaking the market,” the asset’s price may drop to $80,000. “You don’t need to deploy all your money here , let the situation fold out . Stay safe,” he added. Ali Martinez also gave his two cents. The analyst told his over 120,000 followers on X that $92,180 “is now one of the most critical support levels” for BTC based on the MVRV Pricing Bands. He believes that breaking below that mark could lead to a massive crash to as low as $74,400. Pain Only in the Short Term? The tariff war led by Trump has harmed the financial markets and the cryptocurrency industry, but according to Jeff Park (Head of Strategy at Bitwise), it might have a positive effect on bitcoin in the long run. He thinks the actual effects of the increased rates should be understood through two key ideas: the Triffin dilemma and Trump’s economic plans. The Triffin dilemma is an economic paradox that arises when a national currency also serves as the world’s reserve currency. While this gives the country certain financial advantages, it also means it must maintain trade deficits to supply liquidity. Park sees tariffs as a short-term tactic to push nations to reduce their US dollar holdings and shift investments away from America’s debt, with the real goal being a controlled devaluation of the greenback. He also believes Trump’s team aims to lower bond yields and cut reliance on foreign capital, making BTC a key hedge against inflation. “As the world enters a sustained tariff war, the demand for bitcoin will skyrocket. Both US investors and foreign market participants will flock to bitcoin for different reasons, but the outcome remains the same – higher prices, and at an accelerated pace,” he concluded. The post Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst) appeared first on CryptoPotato . BitcoinSistemi