Crypto Bloodbath: Single Trader Loses $200M as $1.15 Billion Wiped Out!
Crypto markets just experienced one of their most brutal days in recent months, with over $1.15 billion in leveraged positions liquidated across major exchanges. A staggering 247,000 traders were wiped out, predominantly those betting on price increases, who collectively lost over $1 billion.
#The most significant hit was a single Bitcoin long position on Binance, valued at a massive $200 million, marking one of the year's largest individual losses. This massive sell-off quickly dampened recent bullish sentiment driven by Circle's IPO and renewed interest in DeFi tokens, causing major cryptocurrencies like Bitcoin, Ether, Solana, and Dogecoin to tumble. Binance and Bybit saw the highest liquidation volumes, highlighting the extreme volatility that occurs when traders use borrowed funds and can not cover their bets.