Bitcoin drop to $89,000 leads to $1 billion liquidations for bullish BTC bets

The recent decline in Bitcoin's price to $89,000 has triggered an astonishing wave of liquidations, resulting in over $1 billion worth of liquidated positions among investors who had placed bullish bets on the cryptocurrency. This sudden downturn has not only shaken the confidence of many traders but also highlighted the inherent volatility and risks associated with cryptocurrency investments. As liquidations occur, positions are forcibly closed by trading platforms to prevent further losses, contributing to the ongoing turbulence in the cryptocurrency market. source: https://www.coindesk.com/markets/2026/01/21/bitcoin-drop-to-usd89-000-leads-to-usd1-billion-liquidations-for-bullish-btc-bets