Bitcoin long liquidations hit largest level since early June
Leveraged Bitcoin bulls just had their worst stretch in roughly four months. More than 14,505 BTC, worth about $1.17 billion, has been liquidated from long positions, according to data shared on X.That marks the largest long liquidation since early June 2026.The damage came during a volatile stretc...
Leveraged Bitcoin bulls just had their worst stretch in roughly four months. More than 14,505 BTC, worth about $1.17 billion, has been liquidated from long positions, according to data shared on X. That marks the largest long liquidation since early June 2026.
The damage came during a volatile stretch from October 6 to 8, 2026. Over that window, Bitcoin dropped approximately $1,600 and fell below the psychologically important $84,000 level. Lows during the move ranged between $82,700 and $83,800.
The sharpest moment hit on October 6. Bitcoin slid from approximately $85,500 to near $83,800 in about 15 minutes. That quick drop set off around $400 million in long liquidations within a single hour.
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More than 100,000 traders were caught up in the wipeout. Across crypto derivatives, liquidations reached approximately $555 million within 24 hours, mostly from longs. Some estimates put the figure between $696 million and $1.02 billion over broader 24-hour periods.
The X data tallies about $1.17 billion in long liquidations alone. Live trackers including ByKaranteli and CoinGlass indicated that long positions accounted for over 90% of liquidation totals. The action concentrated on the biggest derivatives venues.
Binance, Hyperliquid, and Bybit were the leading platforms during the period, with Binance noted for significant BTCUSDT orders. Context matters here. A billion-dollar flush sounds dramatic until you compare it with the October 2025 liquidation cascade.
That event surpassed $19 billion in liquidations. Several analyses framed the move as a mechanical leverage flush rather than a structural deleveraging. Open interest, which measures the total value of outstanding derivatives contracts, still sits around $150 billion.
It saw only modest daily declines after the selloff. Funding rates also remained positive in several analyses. Positive funding means long holders are paying shorts to keep their positions open, a sign that bullish leverage remains the dominant trade.
Article text via FreeNewsAPI. Rights remain with TradingView.
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