Bitcoin’s Sunday Rollercoaster Triggers Mass Liquidations—Just Another Day in Crypto

BTC whipsawed traders with violent price swings this weekend—because what’s a Sunday without leveraged positions getting obliterated?

Pump-and-dump déjà vu: Bitcoin’s 7% surge-then-plunge left over $200M in futures contracts liquidated, proving yet again that crypto markets never sleep (or show mercy).

Leverage lovers left holding the bag: As always, the biggest casualties were overconfident traders who thought they could time the market—because clearly, three years of bear markets taught us nothing.

Bonus finance jab: Meanwhile, traditional bankers sipped mimosas while watching crypto’s self-cannibalizing liquidity circus from their zero-leverage sidelines.

Recall our Market Watch from this morning, which informed that BTC had returned to familiar ground at around $104,000 after a brief dip below $103,000, which allowed an anonymous whale to open a massive long position worth nearly $400 million on Hyperliquid.

Live data from CoinGlass indicates that the large market participant has closed a portion of his position, which is now worth a more modest $337 million.

This transpired in the past few hours, during which BTC’s price quickly pumped from $104,000 to a multi-month peak at $106,000, where it faced a violent rejection and was pushed south to its starting point within minutes.

The total value of wrecked positions has risen to almost $280 million on a daily scale, with the majority of that taking place in the past 12 hours.

BTC short positions actually have the second-biggest share of the pie, as ETH longs dominate with over $80 million.

More than 90,00 traders have been wrecked in the past day, while the single-largest liquidated position took place on HTX, involved the ETH/USDT pair, and was worth $8.21 million, says CoinGlass.