Bitcoin slid below $63,000 on June 3, hitting its lowest price since February 24. The drop wiped out more than $150M in long positions and capped a brutal stretch that’s seen the asset shed over 14% in a single week.
The liquidation cascade
Total crypto liquidations across the market ranged between $1.1B and $1.8B within a 24-hour window, depending on the data source. Long positions bore the overwhelming brunt of the pain, with estimates suggesting over $945M in longs were forcibly closed.
Bitcoin alone accounted for hundreds of millions in liquidated positions, exceeding $800M in at least one dataset.
Bitcoin has now fallen more than 21% over the past month.
