The market has fallen into a "meat grinder" mode: bulls have been under pressure for three consecutive days, with BTC fluctuating around $95,000.
Liquidation Overview: As of January 17, 2026, the crypto market's leverage cleanup continues. In the past 24 hours, the total liquidation across the network was $121 million. Although this is a reduction from the previous days' "$300 million level" liquidations, **long position liquidations ($83.26 million)** still dominate (about 69%), reflecting that the market's bullish sentiment is being passively "trampled" amid continuous declines.
Major Coins Fluctuation: * ETH liquidation amount ($23.15 million) has rarely surpassed BTC ($21.09 million). This is mainly due to Ethereum encountering resistance at the $3,300.$ level yesterday and quickly retracting, triggering the liquidation of high-leverage funds that entered under favorable expectations from the BitMine shareholders' meeting.
BTC Support Level: Currently, the intensity of long position liquidations is concentrated around the $94,000.$ level. If this position is further breached, it is expected to trigger a new round of chain liquidations amounting to $400 million.
Trader Sentiment: As top traders like Eugene Ng Ah Sio withdraw cash, market liquidity has decreased. The current "continuous decline" characteristic leans more towards stock game strategies, with shorts utilizing the policy vacuum period created by the delayed "Clarity Act" for targeted demolition.
