$1.8B liquidated in 48 hours as Bitcoin wipes out 2026 gains
Bitcoin erased its gains for the month and fell below $88,000 as crypto markets shed $225 billion, with analysts linking the crash to a “sell America” trade and Japanese bond market woes.
Bitcoin dropped another 4% on Tuesday, with more than $1.8 billion liquidated over the past 48 hours amid tariff threats from US President Donald Trump and Japanese bond turmoil.
Bitcoin (BTC) fell to $87,790 on Coinbase in late trading on Tuesday, its lowest level since Dec. 31. Over the past 48 hours, more than $1.8 billion has been liquidated, around 93% of them long positions, reported Coinglass.
The asset has now wiped out all gains made so far this year and is down 10% from its year-to-date high of just under $98,000. It has also fallen below the 50-day exponential moving average (EMA), which served as support in the recent rally.