Bitcoin, XRP, Solana, Ethereum Crash Burns 236,512 Traders
Olumide Adesina•Wednesday, January 8, 2025•1 min read
Bitcoin’s brief sojourn above $100,000 ended when the asset dipped below $96K on Tuesday afternoon.

The pioneer crypto asset failed to continue its run and began to lose value gradually, as was to be expected. The altcoins suffered even more, with XRP, Solana, Ethereum, and Doge all seeing significant price drops.
Bitcoin rose as high as $102,000 on Tuesday but tabled turned amid high demand for the haven currency. The main cryptocurrency has since dropped to $95900 on Binance, losing more than $5,000 in a few hours.
Coinglass data showed that 236,512 traders were liquidated for the day, the total liquidations came in at $693.07 million. The largest single liquidation order happened on Binance – ETHUSDT worth $17.74 million
Ethereum is struggling below the crucial support-turned-resistance level of $3,350 and has dropped 10% daily. SOL and XRP have dropped by comparable percentages to less than $195 and $2.3, respectively.
The strong U.S. economic data had crypto traders rolling back their bullish expectations in 2025. The Bureau of Labor Statistics’ JOLTS job openings for November easily exceeded analyst projections for a drop to 7.7 million, as they unexpectedly increased to 8.1 million from 7.8 million the previous month.
Concurrently released, the ISM Services Purchasing Managers Index, a monthly indicator of the degree of economic activity in the services sector, showed a December reading of 54.1, exceeding forecasts of 53.3 and well ahead of November’s 52.1. The Prices Paid subindex came in hot at 64.4 as opposed to the anticipated 57.5 and 58.2 for the previous month,.
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Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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