In a crypto market selloff, the cryptocurrency market experienced a substantial downturn on January 22 with over $100 million liquidated in the last 24 hours, driven by waning investor risk appetite. Notably, this market retreat is attributed to profit-booking maneuvers by many investors, speculations about future market performance, and the lingering impact of the recently approved Spot Bitcoin ETF, adding a layer of volatility.
Crypto Market Selloff: Potential Factors & Market Trends
According to CoinGlass data, over the past 24 hours, the crypto market witnessed an unprecedented liquidation of $107.25 million, affecting approximately 55,000 traders. The largest single liquidation, valued at $3.20 million, occurred on OKX – ETH-USD-SWAP. Notably, Ethereum led individual crypto liquidations with $22.94 million, followed closely by Bitcoin at $20.75 million, and Solana at $6.53 million.
Meanwhile, examining the crypto exchanges, Binance topped the list with $52.62 million in liqu
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