$USDC USD 1.000 billion traders were liquidated with the drop of Bitcoin Despite the correction, medium and long-term expectations for bitcoin remain optimistic. Source: Grok.

Leveraged traders with long positions were the ones who suffered the most from the drop.

In the medium and long term, bullish expectations for bitcoin remain in place.

A massive liquidation of over USD 1.000 billion in positions of leveraged traders marked the day of June 5, following a sudden drop in the price of bitcoin (BTC).

Bitcoin, which had maintained some stability between USD 105,000 and USD 106,000, fell to nearly USD 101,000 in a matter of hours. Such a downward movement dragged the rest of the cryptocurrencies in the market down with it, leading to a genuine hemorrhage in the digital asset sector.

Liquidations, which encompass the entire cryptocurrency market and not just BTC, totaled over USD 1.000 billion, mainly affecting traders with long positions (longs), who suffered the greatest impact from the correction.