Nearly $1B in leveraged crypto positions evaporated in a single day, catching more than 138,000 traders on the wrong side of the market. CoinGlass data shows approximately $995M in liquidations over the 24-hour period ending June 25, a painful but increasingly familiar occurrence in 2026’s volatile futures landscape.
Long traders, the ones betting prices would rise, absorbed roughly $705M of the total damage. The remaining liquidations came from short positions, but the lopsided ratio tells a clear story: the market moved down, and the leveraged optimists paid the price.
Where the damage hit hardest
The liquidation wave swept across every major perpetual futures exchange. Binance, Hyperliquid, Bybit, and OKX all saw significant wipeouts as cascading sell pressure triggered margin calls faster than traders could react.
The single largest liquidation was a $38M Bitcoin position on Hyperliquid.
