Crypto liquidations reach $655M on January 21, 2026 as Bitcoin whipsaws

Leveraged crypto traders saw $655 million in positions wiped out over the past 24 hours, according to CoinGlass. On January 21, 2026, Bitcoin jumped from $88,224 to $90,295 before reversing to $87,304, prompting liquidations across shorts and longs; BTC and ETH were last at $89,479 and $2,988.