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Bitcoin has failed the level of $ 70,000
Bitcoin BTC $72,372.72 Mezo Wrapped BTC -5.85% Market capitalization $40.92 million VOL. 24 hours $4.08 billion plummeted to $ 70,000 on the morning of January 5, losing more than 7% of its value overnight. This was the worst drop in the leading cryptocurrency since November 2024. The total market capitalization fell by 6% to $ 2.5 trillion, which immediately affected investor sentiment.
According to CoinGlass, $ 853 million worth of crypto positions were liquidated within 24 hours, of which $ 708 million were long and $ 145 million were short. In total, more than 358 thousand traders lost their assets, and the largest single liquidation occurred in the BTC/USDT pair on the Aster exchange — an order for $ 11.36 million.
The largest losses were recorded for bitcoin — $ 406.7 million, Ethereum ETH $2,123.69 Bridged Ether (StarkGate) -5.20% Market capitalization $49.83 million VOL. 24 hours $3.3 billion - $ 211 million, and Solana SOL $91.80 Binance-Peg SOL -4.66% Market capitalization $0.1 billion VOL. 24 hours $0.66 billion - $ 72 million. At the time of publication, bitcoin was trading at $ 70,790.18, although the minimum value for the day was $ 70,119.88. Ethereum was down 7% to $ 2,108.68, approaching the critical $ 2,000 mark last seen in May 2025.
Other key cryptocurrencies also lost value: Binance Coin dropped by more than 8.5% to $ 694.25, XRP XRP $1.41 XRP -12.21% Market capitalization $86.01 billion VOL. 24 hours $0.43 billion - by 10% to $ 1.44. Well-known representatives of the crypto community, including Katie Wood and Jim Cramer, warn of the risks of further fluctuations and urge investors to be cautious.
The largest corporate bitcoin holder, Strategy (formerly MicroStrategy), reported a loss of almost $ 40 billion over the past four months. It has 713,502 BTC on its balance sheet. The company will announce its financial results for the fourth quarter of 2025 on February 5 after the market closes. MSTR shares closed at $ 129.09, down 3%, and another 3% in after-market transactions.