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.

BREAKING: MicroStrategy’s, $MSTR, Bitcoin position officially turns red as Bitcoin falls below $76,000. pic.twitter.com/IRZjYzJS8H

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

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