The sell-off has resulted in the crypto market shedding another $111 billion from its total value over the last 24 hours, according to CoinGecko. Long and short positions worth over $1.6 billion were liquidated during the same timeframeBitcoin prices continued to plunge on Saturday, falling below the mark of $80,000 to the lowest level in 10 months as digital assets see no insulation from the commodity sell-off witnessed before the weekend.
Prices in New York fell as much as 10% to $75,709 on Saturday. Liquidity remained thin and buying interest was limited. The fall has knocked off over 35% from Bitcoin’s peak from October 2025.
Other tokens beyond Bitcoin that are far less liquid saw steeper losses. At one point, Ether, the second-largest digital asset was down 17%, while Solana was down over 17% as well.
The sell-off has resulted in the crypto market shedding another $111 billion from its total value over the last 24 hours, according to CoinGecko. Long and short positions worth over $1.6 billion were liquidated during the same timeframe, most of them were around Bitcoin and Ethereum.
Weakness in the US Dollar across January, barring the final few days, did little to allay investor sentiment around the crypto asset, a development that would otherwise be positive for it. There was no meaningful inflow during the sharp fall seen in Gold and Silver prices last Friday as well. A delay in the new US market structure regulations for the sector has added to the aversion.
Some participants on the street are now raising questions about Bitcoin’s role in an investor portfolio as the token, once cited as a momentum play and a hedge against currency debasing, is failing to serve either of the premises. ETF outflows have continued and geopolitical risks have triggered a flight to Gold and Silver but not crypto.
“The levels right now are reading in pretty extreme disinterest” from retail investors, said Needham analyst John Todaro, adding trading volumes may remain depressed for “another quarter or two.”
