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Crypto liquidations hit $1.829 billion as Bitcoin falls below $60,000

Crypto liquidations hit $1.829 billion as Bitcoin falls below $60,000

Bitcoin and Ether capped one of crypto’s sharpest weekly drawdowns since November 2022 as stronger U.S. jobs data, persistent spot Bitcoin ETF outflows and forced deleveraging erased about $390 billion from digital assets.

BTC
ETH
ZEC

Fact Check
BlockBeats flash 349759 and Binance Square reposts independently confirm the headline 24-hour figures verbatim: $1.829B total liquidations, $1.457B longs, and 347,462 traders affected (sourced to Coinglass). BlockBeats also notes a $792M liquidation day on June 5 immediately preceding this, supporting the multi-day wipeout narrative. The aggregated 'five-day long liquidations exceeded $5.4 billion' and 'daily losses topped $400 million on June 4 and June 5' specifics are not directly confirmed in the retrieved sources, though they are plausible given one day alone reached $1.46B in long liquidations and the broader BTC drop below $60,000 corroborated by the 'June Curse' coverage. Core numeric claims are likely true; the aggregate five-day figure is unverified in primary sources retrieved.
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Summary

Crypto markets suffered a severe sell-off on June 6 and through the week, with 24-hour liquidations reaching $1.829 billion and weekly leveraged liquidations totaling about $7.1 billion. Bitcoin fell below $60,000 and ended the week down 17.3%, while ether dropped 22%, their biggest weekly losses since the FTX collapse in November 2022. The decline was linked to stronger-than-expected U.S. labor data, sustained spot Bitcoin ETF outflows, worsening sentiment and forced unwinds in leveraged positions, while some reports also cited Strategy's sale of 32 BTC, an Anthropic-assisted Zcash vulnerability finding, and possible capital rotation toward AI-related investments as additional parts of the market narrative.

Terms & Concepts
  • liquidations: Forced closure of leveraged positions when losses consume the collateral needed to keep them open.
  • non-farm payrolls: A monthly U.S. employment measure that can reshape expectations for Federal Reserve policy and risk assets.
  • support levels: Price zones where buying interest is expected to help limit further declines.