Several prominent leveraged traders on Hyperliquid posted significant weekly drawdowns as of January 21, Coinbob hot address tracking cited by BlockBeats shows. The "BTC OG 内幕巨鳃" account shifted from overall profit to an unrealized loss of about $47 million, mainly from ETH long positions with $663 million notional and a $42.4 million loss at a $3,161 average entry, while total positions across ETH, BTC and SOL stand at around $817 million with weekly capital drawdown exceeding $97 million. The "CZ 对手盘" account shows about $28.3 million in unrealized losses, led by XRP longs with $74 million in size and a $15 million loss, plus ETH longs losing $12.62 million on $169 million exposure at a $3,190 average, with total positions near $264 million and weekly drawdown above $31.34 million. Machi Ho recorded $2.549 million in losses from ETH long liquidations during yesterday's market drop, bringing weekly capital drawdown to $4.258 million and leaving less than $100,000 in account funds, while currently holding a 25x leveraged ETH long at a $2,945 entry with a $2,907 liquidation level and about $30,000 in unrealized profit. The "pension-usdt.eth" address holds a 3x leveraged BTC long opened on January 16 with around $89 million in size at a $95,600 average, now showing a $6.56 million unrealized loss, whereas the "链上黄金最大多头" trader saw PAXG long profits expand to $670,000 (34%) this morning before taking profit on roughly 50% of the position, leaving a $3.58 million notional at a $4,415 average and additional on-chain stock longs totaling about $31.6 million.

US Treasury Secretary Bessent said on Jan. 21 that the recent market downturn was triggered by a six-standard-deviation move in Japan's bond market over two days, reflected in its 10-year government bond, BlockBeats reports. He noted the volatility is spreading across global fixed-income markets, with yields on German, French and US government bonds all rising. Bessent said he has been in contact with Japan's top economic officials urging them to stabilize their bond market, and reiterated the moves stem from Japan's bond market and are not connected to Greenland developments.

A whale closed an ETH short position on Jan. 21, realizing $1.312 million in profit, Hyperinsight data show. The trader then opened a 20x leveraged long position on 754.92 BTC (worth approximately $67.27 million). The position has an average entry price of $89,848.3 and currently carries an unrealized loss of $565,000.

On Jan. 21, a crypto whale (address 0xD83…Fd7) expanded its exposure with a $304 million short position, according to EmberCN data cited by BlockBeats. The move follows a surge in capital from $3 million to $18.5 million over six days via rolling shorts. The trader added to positions earlier today and placed staggered take-profit orders, targeting Bitcoin at $83,000–$85,000 and Ethereum at $2,200–$2,905, signaling a calculated bearish strategy.

A prominent Bitcoin whale's unrealized losses expanded to $49 million on January 21, with total long exposure reaching $814 million, Hyperinsight data show. The whale holds a $660 million ETH long position with $44.88 million in unrealized losses at an entry price of $3,161.85, an $89 million BTC long with $2.64 million in losses at $91,506.7, and a $65 million SOL long with $1.49 million in losses at $130.191. Cumulative funding fee losses totaled $8 million.

On Jan. 21, crypto market volatility triggered over $1.06 billion in liquidations within 24 hours, according to Coinglass. Long positions accounted for $998 million of the total, while shorts saw $62.97 million, affecting 180,139 traders globally. The largest single liquidation was a $13.52 million BTCUSDT position on Bitget, underscoring the scale of the market move.

Bitcoin fell below $89,000 as U.S. equities declined and Japanese government bond yields rose sharply, according to The Block. The cryptocurrency’s move came against a backdrop of heightened volatility in traditional financial markets, The Block reported.

GameStop Corp. is preparing to sell 2,396 bitcoin (BTC), representing about half of the cryptocurrency it purchased for $500 million in May 2025, according to Bitcoin News. The outlet reports that regulatory filings show the holdings were acquired as part of that earlier transaction.