Sudden Price Drop
On Monday morning, Bitcoin plummeted 5% to $61,000, triggering a wave of liquidations.
Massive Liquidations
Data shows that over 91,000 crypto traders lost their leveraged positions, resulting in $282 million in liquidations within 24 hours.
Long Traders Hit Hard
Most liquidations (91.59%) were from long traders, who bet on Bitcoin rising.
Top Exchanges Affected
Binance accounted for 35% of liquidations ($102.9 million), followed by OKX ($82 million).
Largest Single Liquidation
A trader on Bitmex lost $10 million on the XBTUSDT pair.
Ongoing Liquidations
Most liquidations occurred in the last 12 hours, with $230 million out of the total $282 million.
Liquidation Trends
June has seen several crashes, with notable liquidation trends:
- June 7: $360 million in liquidations when Bitcoin dropped from $71,000 to $68,000.
- June 18: $300 million in liquidations when Bitcoin fell from $67,000 to $64,000.
Bitcoin’s Struggles
Bitcoin is currently struggling to hold $61,000. If support fails, it could drop to $50,000.
