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Crypto liquidations top $1.7 billion as Bitcoin nears $60,000

Crypto liquidations top $1.7 billion as Bitcoin nears $60,000

Bitcoin fell from the mid-$64,000s to around $61,463 as heavy long liquidations, sustained U.S. spot Bitcoin ETF outflows, a small Strategy sale and broader risk-off sentiment pressured the market.

BTC
ETH

Fact Check
The originating @CryptooIndia post explicitly states $750M in 24-hour crypto liquidations on June 2, 2026. Independent media coverage (TradingView/99Bitcoins) confirms a coincident liquidation event of approximately $766M during the same window, driven by Bitcoin falling below $70,000. Other on-chain trackers (Whale Insider) reported $823M+ in long liquidations later that day. The $750M snapshot is consistent with these figures within reporting/timing variance.
Summary

The crypto market recorded about $1.736 billion in liquidations over 24 hours after Bitcoin slid toward $60,000, with long positions accounting for roughly $1.545 billion and short positions about $191 million, according to Coinglass data cited by PANews. Bitcoin liquidations reached $821 million and Ether liquidations totaled $390 million. The broader selloff also coincided with persistent U.S. spot Bitcoin ETF net outflows, reported at 11 to 12 consecutive trading days and about $3.45 billion to $3.9 billion cumulatively, a disclosed sale of 32 Bitcoin by Strategy, and wider risk-off pressure tied to geopolitics and weaker U.S. equities.

Terms & Concepts
  • Liquidations: Forced closures of leveraged trading positions after losses breach an exchange's margin requirements.
  • spot Bitcoin ETFs: Funds that hold Bitcoin directly.
  • net outflows: A period in which more money leaves an investment product than enters it.