Crypto Markets Edge Higher as Bitcoin, Ether Gain Despite Heavy Liquidations

Crypto markets traded higher on Monday evening after a stronger-than-expected U.S. manufacturing report helped lift broader risk sentiment.

Bitcoin ($BTC) was trading around $78,338, up roughly 2.1% over the past 24 hours, while Ether (ETH) rose about 1.5% to $2,338, according to CoinGecko.

$BTC Chart

Among other large-cap tokens, BNB gained about 2.3% to $772, while $XRP climbed 1.8% to $1.62. Solana (SOL) rose roughly 3.5% to $104.73, recovering some of its recent losses.

The total cryptocurrency market capitalization stood at approximately $2.72 trillion, up about 2.3% on the day, while 24-hour trading volume totaled roughly $223.3 billion.

On the upside, $MYX Finance ($MYX) led the day’s gainers, rising about 13.3%. MemeCore (M) advanced roughly 11.1%, while Hyperliquid (HYPE) gained about 10.6%.

On the downside, Monero (XMR) fell around 6.7%, while pumpfun (PUMP) slipped about 5% and Rain (RAIN) dropped 4%.

Liquidations and ETF Flows

Around $729.3 million in leveraged crypto positions were liquidated over the past 24 hours, according to CoinGlass. Long liquidations accounted for about $453 million, while short liquidations totaled $276 million.

Ethereum recorded the largest share of liquidations at approximately $266.3 million, followed by Bitcoin at around $233 million. CoinGlass data also showed that about 176,301 traders were liquidated during this period.

ETF flows remained mixed as of Jan. 30, with Bitcoin spot ETFs recording $509.7 million in net outflows. Meanwhile, Ethereum spot ETFs saw about $252.9 million in outflows. Elsewhere, $XRP spot ETFs posted $16.8 million in net inflows, while Solana spot ETFs recorded $11.2 million in daily outflows.

Meanwhile, CoinShares’ weekly fund flows report showed investor interest in digital assets continued to wane, with $1.7 billion in net outflows over the past week.

The selloff has flipped year-to-date (YTD) flows to a net outflow of about $1 billion and has pushed total assets under management (AUM) down by $73 billion from its October 2025 peak.

Promising Macro Data

The market rebound followed a stronger-than-expected ISM Manufacturing PMI report, which tracks how U.S. manufacturing is doing month to month.

Monday’s report showed that the Manufacturing PMI registered 52.6 percent in January, a 4.7-percentage point increase compared to the adjusted reading of 47.9 percent in December 2025.

“The overall economy continued in expansion for the 15th month,” the report reads. “The New Orders Index expanded for the first time since August, with a reading of 57.1 percent, up 9.7 percentage points over December's seasonally adjusted figure of 47.4 percent and its highest since February 2022.”