Liquidations across major crypto derivatives hit $627.7 million in a single hour, with $606.6 million tied to long positions that expected price appreciation.
During the sell‑off Bitcoin slipped below $79,000 and Ethereum fell beneath $2,240, marking the deepest intraday declines for both assets in the session.
An unexplained $2 billion outflow from Binance hot wallets was recorded shortly before the price drop, and Binance accounted for $344.8 million of the hour’s liquidations, more than half of the total.
Coinglass data show $189.1 million of Bitcoin positions and $156.8 million of Ethereum positions were liquidated, while short sellers lost roughly $21.1 million; the largest forced closure was an $11.09 million Bitcoin long on Binance.
Other platforms contributed notable figures, with Hyperliquid recording $97 million and Bybit $77.3 million in liquidations, underscoring the breadth of the market shock.
This story was compiled by the Tradexus News Desk with the help of AI.
