Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%
The cryptocurrency market experienced significant losses, with $1.84 billion in leveraged positions liquidated in just 24 hours. Major cryptocurrencies like Bitcoin, Ethereum, and Solana saw substantial drops, leading to the largest liquidation event since February. Despite the downturn, some retail traders remain optimistic, while whale accounts show a shift towards bearish positions.
- ▪Nearly $1.84 billion in leveraged crypto positions were liquidated in 24 hours as Bitcoin fell below $66,000.
- ▪Long positions accounted for about $1.66 billion of the liquidations, with Bitcoin longs absorbing $883.66 million of the damage.
- ▪Binance, Hyperliquid, and Bybit handled the bulk of the liquidations, with Binance accounting for approximately 41% of the total.
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| Publication time | Wed, 03 Jun 2026 05:00:00 +0000 |
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%The single biggest unwind was a $59.67 million BTC-USDT long on HTX.By Shaurya Malwa Jun 3, 2026, 5:00 a.m. 2 min readMake preferred on What to know: Nearly $1.84 billion in leveraged crypto positions were liquidated in 24 hours as bitcoin fell below $66,000 and ether dropped under $1,900, marking the largest wipeout since Feb. 5.Long positions bore the brunt of the damage, with about $1.66 billion in liquidations led by bitcoin, ether and solana longs, and a single $59.67 million BTC-USDT long closed on HTX.Binance, Hyperliquid and Bybit together handled the bulk of the liquidations as bitcoin slid from above $71,000 to around $65,700, and traders…
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