$645M Crypto Carnage: Bulls Get Trampled in Market Bloodbath

Crypto markets got wrecked today—liquidations vaporized $645 million as overleveraged bulls learned gravity still exists.

Margin calls hit like a sledgehammer

The liquidation storm crushed long positions across every major exchange. Bitcoin maximalists suddenly remembered why risk management exists—right after their accounts got obliterated.

Traders who bet against human nature (again) got exactly what they deserved. The only thing more predictable than crypto volatility? The parade of ''experts'' now explaining why this was totally foreseeable.

Funny how those 100x leverage positions don''t look so smart when the market moves 5% against you. But hey—at least the exchanges made bank on fees.

• Crypto market faced $645.67M liquidations, over 130,000 traders affected in 24 hours.
• Bitcoin long liquidations surged 2,360% over shorts, with $3.42 million wiped in one hour.
• One whale lost $201 million on Binance; Ethereum led hourly losses at $7.49 million.

The cryptocurrency market has witnessed over $645.67 million in liquidations within the past 24 hours, affecting more than 130,000 traders. Within just 60 minutes, $340 million was wiped out, highlighting the violent market turn. These figures, sourced from Coinglass, may still underestimate the total liquidation magnitude.

The broader market took a notable dip despite recent optimism. Today, however, nearly all top 100 cryptocurrencies saw losses. The global crypto market cap shrank 4.52%, settling at $3.44 trillion. The drop caught many off guard given earlier optimism driven by political and institutional developments in the digital asset space.

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Trump Endorses Crypto at Coinbase Summit

Investor sentiment earlier leaned bullish. At Coinbase’s State of Crypto Summit, Donald TRUMP shared supportive views on digital assets. Meanwhile, the outgoing FSB chair warned of crypto’s growing systemic risks. Despite these signals, whales began moving funds, often signaling caution. Santiment data flagged increased whale activity during the downturn.

A whale was liquidated on Binance with a $201 million BTC/USDT long position. The massive loss underscored the consequences of high-leverage strategies amid volatile conditions. Long positions continue to show vulnerability as sudden reversals wipe out bullish leverage with little warning.

Bitcoin recently broke $110,000, stirred seven-month high sentiment levels. Santiment recorded 2.12 positive Bitcoin comments for every negative one on June 11. That ratio reflected the strongest retail and institutional Optimism since Trump’s election, despite retail still lagging behind institutions in driving price action.

Bitcoin Liquidations Surge Over $3 Million

However, that same optimism led to overexposure. CoinGlass data showed bulls suffered a 2,360% higher liquidation rate than bears in the past hour. $3.42 million in Bitcoin long positions were liquidated, compared to just $130,700 in shorts. A flash drop from $107,400 to $106,500 triggered cascading losses.

Although bitcoin rebounded above $107,000 quickly, the damage was already done. The liquidation cascade demonstrated the risk of over-leveraged bets in unpredictable markets. In total, over 111,000 traders were liquidated in 24 hours, with 78% of losses hitting long positions a brutal reality for recent market optimists.

While Bitcoin bore the brunt of attention, ethereum topped liquidation charts this hour with $7.49 million lost. Solana followed at $2.36 million. Meme coins like DOGE and PEPE also faced modest sell-offs. Across the board, the message was clear, over-leveraged trades remain highly vulnerable to sudden market reversals.

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