On June 4, 2026, the cryptocurrency market experienced significant fluctuations: the price of Bitcoin dropped to $61,300, then partially recovered and again surpassed the $64,000 mark. Such levels were last observed in February 2026.
This is reported by Finway
Massive liquidations in the futures market
Amid the sharp decline in Bitcoin’s price, the total volume of liquidations in the cryptocurrency futures market over the past day exceeded $1.6 billion. More than 271,000 traders were forced to close their positions, marking one of the largest instances in recent times.
“The total volume of liquidations in the cryptocurrency market exceeded $1.6 billion.”
According to CoinGlass analytics, the largest losses were incurred by holders of long positions — they accounted for over $1.35 billion in liquidations. Meanwhile, liquidations of short positions amounted to about $257 million. The biggest losses were suffered by traders dealing with Bitcoin — over $736 million. For Ethereum, this figure exceeded $368 million, and for Solana, it was nearly $84 million.
Largest individual liquidations and impact on traders
The largest individual liquidation was recorded on the decentralized exchange Hyperliquid in the BTC/USD trading pair — amounting to approximately $16.2 million.
Overall, the wave of liquidations affecting more than 271,000 traders was the result of sharp volatility and rapid price changes of Bitcoin on major platforms.
Previously known crypto skeptic Peter Schiff expressed his opinion about the potential further decline of Bitcoin — even below $20,000, which only fuels discussions among investors regarding the future of the first cryptocurrency.