In brief
- Bitcoin’s drop below $90,000 has wiped out $478 million in leveraged positions, with longs contributing over 90% to the total liquidations.
- Major altcoins like Dogecoin, Bonk, Pepe, and ZCash, which posted double-digit gains in the first week, have followed top crypto’s lead and tanked.
- Analysts attribute the decline to fading early-year momentum, a risk-off macro mood ahead of U.S. jobs data, and short-term headwinds from Bitcoin ETF outflows.
The new year enthusiasm has all but vanished as Bitcoin continued its sustained downtrend, undoing most of the year-to-date gains noted in the first week.
Bitcoin is down 2.4% over 24 hours, and is trading at $89,881, according to CoinGecko data. The total crypto market capitalization,…
Jan 10 2026
