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Crypto Market Chaos: $704M Liquidations as Bitcoin Slides to $71K

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Crypto Market Chaos: $704M Liquidations as Bitcoin Slides to $71K

Crypto liquidations hit $704 million in 24 hours as Bitcoin slid toward $71,000 and Ethereum dropped 25%. The market lost $900 billion in 22 days, with traders on Polymarket betting on more declines.

February 5, 2026 5 min read min read