Crypto Market Shaken: $370 Million Liquidated in One Hour
The crypto market experienced a major shock last weekend, with liquidations reaching $370 million from the crypto market within one hour, as reported by Altcoin Daily on X. This event occurred around 21:49 UTC on June 21, 2025, triggering widespread discussion among traders and investors, while also affirming the high volatility that remains characteristic of this digital asset.
This wave of liquidations followed a tumultuous week for the crypto market, with Bitcoin experiencing a price drop of 5%. This decline is believed to be related to concerns over increasing regulatory actions in the US against major exchanges, a factor that often triggers market instability. Data shows that Binance and OKX, two leading global crypto trading platforms, accounted for over 60% of the liquidations, highlighting their significant role in leveraged trading activities.
Recent studies reveal that large-scale liquidations like this are often linked to sudden market movements, especially in assets with high leverage such as Bitcoin and Ethereum. Such events tend to increase volatility, creating a domino effect that impacts both short and long positions. The timing of this event also coincided with speculation about interest rate hikes, which have historically pressured risk assets like crypto, adding complexity to the current market dynamics.
Reactions on X varied. While some traders viewed this as a "buy at low prices" opportunity, others warned against being too reckless in gambling, suggesting that exchanges might intentionally delay the altcoin season to maximize liquidations. Meanwhile, some expressed determination to "hold strong" amid the chaos, reflecting the resilience of the crypto community.