Crypto liquidations hit $1.22 billion in 24 hours after $500 million hourly wipeout

About 255,000 traders were liquidated across the market, with $944 million in longs and major losses reported in Bitcoin, Ethereum and Zcash amid a sharp move that also sent Bitcoin to $61,100 and Ethereum to $1,620.

BTC

ETH

BNB

53d ago

Fact Check

Multiple independent X posts dated 2026-06-05 — including the two caller-supplied source leads from WatcherGuru and CryptoTony__ and additional posts from @rocket100ltd and @Maaalik9 — report the identical figure of >$500 million liquidated in one hour with the same price snapshot (BTC $61,100, ETH $1,620, BNB $570, XRP $1.10, SOL $64). This convergence indicates the figure is being repeated from a common liquidation-tracker source (e.g., Coinglass-style data). No primary exchange/aggregator page (e.g., Coinglass) was directly retrieved to independently verify the dollar figure, which prevents high confidence, but no contradicting evidence emerged.

Summary

Crypto liquidations reached $1.22 billion over 24 hours, including more than $500 million in the span of one hour, in a sharp market move that forced widespread closures of leveraged positions. About 255,000 traders were liquidated, with long positions accounting for $944 million and short positions for $273 million. Bitcoin recorded $368 million in liquidations, Ethereum $295 million and Zcash $108 million. During the selloff, spot prices were cited at $61,100 for Bitcoin, $1,620 for Ethereum, $570 for BNB, $1.10 for XRP and $64 for SOL. Liquidations occur when exchanges automatically close margin-backed positions after collateral thresholds are breached, often amplifying volatility during rapid price swings.

Terms & Concepts

liquidations: Forced closure of leveraged trading positions when margin requirements are no longer met
long positions: Bets that an asset's price will rise
leveraged trading: Using borrowed funds to increase market exposure