{"id":9609,"date":"2026-06-04T06:41:55","date_gmt":"2026-06-04T06:41:55","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=9609"},"modified":"2026-06-04T06:41:55","modified_gmt":"2026-06-04T06:41:55","slug":"bitcoin-plunges-to-65000-as-1-8-billion-in-crypto-positions-are-liquidated","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=9609","title":{"rendered":"Bitcoin Plunges to $65,000 as $1.8 Billion in Crypto Positions Are Liquidated"},"content":{"rendered":"

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  • Bitcoin fell to a multi-month low near US$65,000 (AU$100,750), down about 8% from Tuesday\u2019s high, in one of the year\u2019s largest liquidation events.<\/span><\/li>\n
  • More than US$1.8 billion (AU$2.79 billion) in leveraged positions were wiped out, including US$774 million (AU$1.2 billion) in Bitcoin long liquidations, CoinGlass data showed.<\/span><\/li>\n
  • Analysts disputed the cause, splitting between weakening Bitcoin demand, MicroStrategy\u2019s recent selling and geopolitical risk as more than 224,500 traders were liquidated.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Bitcoin tumbled to a multi-month low near US$65,000 (AU$100,750) on Wednesday, triggering a derivatives wipeout that erased more than US$1.8 billion (AU$2.79 billion) in leveraged crypto positions and drew warnings of a deeper correction.<\/p>\n

    The drop marked an extraordinary single-day flush, with Bitcoin shedding about 8% from Tuesday\u2019s high near US$71,300 (AU$110K) to a roughly four-month low.\u00a0<\/p>\n

    CoinGlass data revealed that long-position liquidations accounted for about US$1.5 billion (AU$2.33 billion) of the total, against roughly US$180 million (AU$279 million) in short liquidations.<\/p>\n

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    Source: CoinGlass.<\/figcaption><\/figure>\n

    Bitcoin longs bore the brunt, with US$774 million (AU$1.2 billion) wiped out, while Ether longs followed at about US$440 million (AU$682 million) and Solana longs at roughly US$91 million (AU$141 million).\u00a0<\/p>\n

    More than 224,500 traders were liquidated across the market.<\/p>\n

    Read more: GTA 6 Hype Fuels Surge in Phishing Scams and Malware Campaigns<\/strong><\/p>\n

    Analysts Split on the Cause<\/h2>\n

    As a surprise to no one, market analysts disagreed over what drove the rout. CryptoQuant Head of Research Julio Moreno stated: \u201cThe ongoing price correction is completely related to Bitcoin demand conditions and has nothing to do with stocks, oil, or macro data.\u201d<\/p>\n

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    Overall demand for Bitcoin (speculative + spot) is contracting at a monthly pace of 232K Bitcoin.<\/p>\n

    The ongoing price correction is completely related to Bitcoin demand conditions and has nothing to do with stocks (all-time highs), oil or macro (e.g. manufacturing activity is\u2026 pic.twitter.com\/Qz6yNdHKlH<\/a><\/p>\n

    \u2014 Julio Moreno (@jjcmoreno) June 2, 2026<\/p><\/blockquote>\n<\/div>\n<\/figure>\n

    Analyst Lark Davis identified six contributing factors, characterising Bitcoin\u2019s four-year market cycle as the primary one, while analyst Ted Pillows warned that a break below the US$65,000 (AU$100.7K) support could open the door to fresh lows.<\/p>\n

    Retail traders fixated on Michael Saylor\u2019s disclosed sale of 32 BTC from MicroStrategy\u2019s holdings of more than 840,000 BTC. Though numerically minor, the sale was treated as symbolically significant.<\/p>\n

    Read more: Kelp DAO Hacker Launders US$220M in Stolen Crypto, Recovery Prospects Fade\u00a0<\/strong><\/p>\n<\/p><\/div>\n