Back to Markets
Crypto▼ Bearish
Crypto Liquidations Hit $1B as Bitcoin Sinks to $59,018
Bitcoin's slide to a 2026 low of $59,018 triggered $1 billion in leveraged liquidations. Analysts warn a rally above $69,500 could vaporise $4.7 billion in short contracts.
Continue with
Total cryptocurrency liquidations topped $1 billion in 24 hours, hours after bitcoin fell to $59,018, a new 2026 low. Market data as of 3 a.m. EST showed $781 million in leveraged long positions were wiped out. Short positions accounted for $218 million. Some 176,694 traders were liquidated. The largest single liquidation order was $12.21 million.
Bitcoin alone drove $413 million of that total. Longs lost $320 million, shorts $93.4 million. After a mild recovery later in the session, the pendulum swung toward short positions. Multiple analysts warned that a drop below $58,000 would likely trigger another wave of long liquidations.
Ethereum saw the next-largest figure at $230 million. Long bets made up $170 million – 74% of the total. The move came after ether fell to $1,557, pushing its market capitalisation below the $200 billion mark. Solana, which briefly dropped under $65 on June 3, saw $46 million in total liquidations: $37 million from longs and $9 million from shorts.