The cryptocurrency market saw a sharp increase in liquidations after the price of $BTC #Bitcoin fell below $100,000 during early trading hours in the US on January 7, due to the US Jolts data.

According to Coinglass data, approximately $206 million worth of crypto positions were liquidated in an hour after the sudden price drop in the market. Bitcoin fell by 4% to $97,207, and the global cryptocurrency market value fell by 4.5% to $3.44 trillion.

Total liquidations in the last 24 hours reached $388 million, of which more than $206 million were wiped out in a single hour. The majority of these liquidations included both long and short positions on major exchanges.