The crypto market cap stood at $3.2 trillion on January 10, 2025, as the US trading session saw Bitcoin continue to struggle with downside pressure.
As BTC dominance hovered around 56.8% and Ethereum’s at 12%, the global 24-hour trading volume fell 1.2% to about $156.9 billion.
The overall outlook for crypto remains bullish but analysts are warning about a potential downward continuation ahead of the January 20, 2025 inauguration of Donald Trump.
What happened in the crypto market today? Here’s a brief overview
Crypto liquidations hit $373 million
According to Coinglass data, the cryptocurrency market witnessed notable liquidations in the 24 hours prior to this report.
The total amount liquidated stood at over $373 million, with long positions accounting for $225 million and short positions $147 million.
Bitcoin and Ethereum both recorded huge liquidations reaching $96.6 million and $91 million respectively.
Solana, Dogecoin, Sui, and XRP are the other cryptocurrencies to experience notable liquidations as prices fluctuated heavily above key support levels.
Per Coinglass, the total number of liquidated traders was 115,384 in 24 hours.
The single largest liquidation order occurred on the Binance exchange, with $12.13 million in ETH/USDT.
Bitcoin looks to hold above key level
On Jan 10, Bitcoin (BTC) hovered between $91,220 and $95,259.
The 24-hour range means the benchmark crypto asset is largely flat on the day and down 4.3% in the past week.
Bitcoin struggles came in a week when the market reacted to news that the US government was looking to liquidate $6.5 billion of Silk Road bitcoins.
Russia is also selling BTC from a crypto corruption case.
However, this week also saw MicroStrategy buy more BTC, adding $101 million worth of BTC to bring its total holdings to 447,470 BTC.
Aptos and Chainlink prices
Aptos announced on Thursday that it was integrating the Chainlink standard for verifiable data.
News of the Chainlink’s Data Feeds on Aptos buoyed prices from lows of $8.5 to highs of $9.1.
APT price has not extended the gains in the past 24 hours and remains more than 9% down in the past week and over 30% in the past month.
Aptos price changed hands around $8.88 at the time of writing.
Chainlink price hovered around $19.87, about 1.1% down in the past 24 hours and -16% this past week.
Top gainers and losers today
Most of the leading cryptocurrencies by market cap traded lower on the day, with ETH, BNB, XRP, and SOL dipping below key levels.
The mega-cap altcoins are near crucial support zones of $3,200, $2.20, $690, and $180 respectively.
The rest of the top 100 altcoins by market cap traded mixed.
Bitcoin SV (BSV), Bitget Token (BGB), and Uniswap (UNI) were top gainers, while Virtuals Protocol (VIRTUAL), Movement (MOVE), and Bittensor (TAO) top underperformers among the top 100 by market cap.
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