OKX Sees $9.53M Bitcoin Liquidation as Crypto Markets Reel from $560M Storm

Bitcoin’s sudden pullback from its all-time high near $111,000 has triggered massive liquidations across crypto derivatives markets, with OKX witnessing one of the largest single-position liquidations. The event highlights the volatility and risks inherent in Leveraged crypto trading.

Bitcoin’s Retreat from $111K Triggers $560M Crypto Liquidation Storm

Bitcoin’s sharp reversal from its all-time high near $111,000 has unleashed a cascade of liquidations across crypto derivatives markets. Over $560 million in leveraged positions evaporated during Friday’s sell-off, with bulls bearing the brunt of the damage.

Data reveals 160,905 traders faced margin calls, including a single $9.53 million BTC-USDT position on OKX. The bloodletting hit long holders disproportionately—$418 million in bullish bets collapsed versus $144 million of shorts. Bitcoin and ethereum traders suffered most, with $153 million and $144 million liquidated respectively.

Pi Network Insider Moves 102 Million Tokens, Raising Concerns Over Core Team’s Role

Pi Network faces renewed scrutiny as over 102 million tokens were withdrawn from OKX exchange within three days. The transactions, including a single 70 million Pi transfer, have fueled speculation about insider sell-offs and project stability.

Pseudonymous analyst Mr. Spock tracked the mid-May 2025 movements, noting the scale suggests coordinated action rather than organic market activity. The timing coincides with growing questions about the Core Team’s transparency regarding token distribution and vesting schedules.