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Bitcoin Long Bets Dump as $636M Gets Wiped Out in One-Day Rout, $1.73B Total Liquidations

Derivatives Data Price Volatility

2026-06-04 19:22:08

BTC-2.76%

According to reports, Bitcoin plunged to $61,310 late June 3 before recovering to around $64,600, ultimately retreating below $64,000 by June 4. The sharp sell-off triggered $1.73 billion in total leveraged liquidations across platforms, with $803 million wiped from Bitcoin alone. Long bets accounted for $636 million of Bitcoin liquidations. Over 24 hours, Bitcoin declined 3.2% and was down 14% over seven days. Since May 29, when its market capitalization stood at approximately $1.48 trillion, Bitcoin has shed over $200 billion, marking one of its worst periods in 2026. Analysts attributed the move to a combination of macroeconomic stress and narrative-driven selling, with Bitget Wallet warning that persistent outflows could force a further retest of $55,000 to $57,000.

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