BTC Crashes $3K in Minutes as Whale Reportedly Wrecked for $1 Billion

3 days ago 3

BTC dropped below $76,000 on Saturday evening.

The Saturday massacre has only intensified in the past few hours, as bitcoin just plunged to $76,000 for the first time since the initial tariff threat in April last year.

As such, the cryptocurrency extended its massive losses to almost $15,000 in just days, as it traded above $90,000 on Wednesday.

The latest flash crash took place as a single entity was liquidated for $1 billion, according to data from the Kobeissi Letter.

BREAKING: Bitcoin falls -$3,000 in 5 minutes as a massive levered long position worth $1 billion was liquidated at 1:43 PM ET. pic.twitter.com/T3RwBdr17Q

— The Kobeissi Letter (@KobeissiLetter) January 31, 2026

CoinGlass reports different data as of press time. It shows that the single-largest liquidated position took place on Hyperliquid and was worth a whopping $222 million. It involved the ETH-USD pair.

The total value of wrecked positions has shot up to more than $2.5 billion on a daily basis. Nearly all of that came in the past 12 hours. Naturally, longs are responsible for the biggest share, with $2.41 billion of such positions wiped out in the past 24 hours.

Bitcoin’s price crash to $76,000 meant that Strategy’s massive BTC position briefly turned red for the first time in over two years. Nevertheless, the cryptocurrency has rebounded slightly since that multi-month low, and now sits around $78,000, putting the company’s stash slightly in the green again.

About the author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain.

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