$547 Million in Crypto Bets Wiped Out as Bitcoin Surges Past $81,000
Bitcoin's price surge to over $81,000 has led to a massive wave of liquidations in the cryptocurrency market. According to CoinGlass, a total of $547 million in leveraged crypto bets have closed out in the last 24 hours.
The majority of these liquidations came from short positions, with long liquidations amounting to just $57.10 million. This means that traders who had bet against Bitcoin's price rise are getting wiped out as it continues to climb.
Bitcoin led the way in terms of liquidations, accounting for about $243.54 million of the total. Ethereum followed closely behind at around $95.66 million, with Solana adding another $36.29 million to the tally.
The largest single close was an $8.53 million Bitcoin position on Hyperliquid, highlighting the significant scale of these liquidations.