On the evening of June 21, 2025, the cryptocurrency market experienced a sharp decline: the price of Bitcoin fell below $101,000, causing a significant drop in the prices of most altcoins. Over the next 24 hours, the total volume of liquidations of futures positions on cryptocurrency exchanges exceeded $680 million.
This is reported by Business • Media
Record Losses for Traders
During this day, more than 172,000 traders’ positions were closed. Of this, over $595 million were liquidations of long positions, while about $85 million were from short positions. The largest losses were recorded in pairs with Bitcoin and Ethereum: approximately $151 million in liquidations for Bitcoin and around $280 million for Ethereum.
“On the evening of June 21, 2025, Bitcoin plummeted below the $101,000 mark, and the prices of most altcoins also fell. Against this backdrop, the volume of liquidations in the futures market for cryptocurrencies exceeded $680 million in 24 hours.”
Most traders incurred losses primarily on long positions. According to CoinGlass, this spike in liquidations was one of the largest in 2025.
Price Recovery and Impact of External Factors
By the morning of June 22, the price of Bitcoin stabilized and returned to around $103,000. This price update occurred amid reports from U.S. President Donald Trump regarding the destruction of three nuclear facilities in Iran, which may have influenced investor sentiment. Currently, Bitcoin is trading near this mark.
It is worth noting that Michael Saylor, co-founder of Strategy, previously expressed the opinion that the price of Bitcoin will rise and could reach $21 million over the next 21 years.