Back
Crypto liquidations hit $603 million as Bitcoin briefly tops $64,000

Crypto liquidations hit $603 million as Bitcoin briefly tops $64,000

A June 8 crypto rebound pushed Bitcoin above $64,000, triggering a broad short squeeze with $460 million in bearish liquidations as NFTs, major tokens and crypto-linked stocks also advanced despite fragile futures sentiment.

BTC
ETH
SOL

Fact Check
PANews citing Coinglass confirms the exact $603M total and $460M short liquidations figure with BTC ($279M) and ETH ($168M) leading. BlockBeats citing Hyperinsight confirms BTC briefly topped $64,000 in an early-morning 5-minute spike and that Hyperliquid logged 10 million-dollar-level liquidations on June 8, 2026, matching the claim's specifics.
Summary

Crypto markets rebounded on June 8, with Bitcoin briefly rising above $64,000 and helping drive $603 million in liquidations over 24 hours, including $460 million in shorts and $143 million in longs, according to Coinglass data cited by PANews. Bitcoin accounted for $279 million of the liquidations and Ether for $168 million, while HyperInsight said Hyperliquid logged 10 liquidations above $1 million in quick succession. At the same time, SoSoValue data showed NFTs leading sector gains with a 25.55% increase over 24 hours, while Ether rose above $1,700 and SOL climbed above $67. Analysts said BTC futures open interest fell from 901,000 BTC to 716,000 BTC over four days, suggesting sentiment remained fragile despite the rebound in tokens and crypto-linked stocks.

Terms & Concepts
  • short squeeze: A market move higher that forces traders betting on declines to buy back or close positions.
  • liquidations: Forced closure of leveraged positions by an exchange when losses exceed margin requirements.
  • open interest: The total number of outstanding derivatives contracts.