On June 4, 2026, the price of Bitcoin significantly dropped, reaching around $61,300. After that, the cryptocurrency partially recovered and returned above the $64,000 level. The last time Bitcoin traded at such prices was in February 2026.
This is reported by Business • Media
Mass Liquidations Amid Price Decline
The sharp decline in Bitcoin triggered widespread liquidations in the cryptocurrency derivatives market. According to analytical platforms, the total volume of forced liquidations over the past day reached over $1.6 billion. As a result, more than 271,000 traders worldwide were forced to close their positions.
The hardest hit were traders who opened long positions — over $1.35 billion in losses were attributed to them, while short positions accounted for about $257 million. In particular, Bitcoin holders suffered losses of over $736 million, liquidations in Ethereum reached $368 million, and in Solana, around $84 million.
“The total volume of liquidations in the cryptocurrency market exceeded $1.6 billion.”
Largest Losses on Hyperliquid
The largest individual liquidation was recorded on the decentralized exchange Hyperliquid, where a position worth about $16.2 million in the BTC/USD pair was forcibly closed. This became one of the largest liquidation cases in recent times in the crypto asset market.
Recall that earlier, well-known crypto skeptic Peter Schiff expressed a forecast regarding further declines in the price of Bitcoin — down to levels below $20,000.