- Over $692M was liquidated across crypto markets as Bitcoin dropped below $105K, triggering massive losses in leveraged positions.
- James Wynn lost $100M on a 4,604 BTC position using 40x leverage, highlighting the extreme risk tied to aggressive crypto trading.
- Despite widespread liquidations, green momentum across the heatmap suggests cautious bullish sentiment remains in large-cap tokens.
The crypto market faced a major shake-up as $692.73 million in liquidations erased positions across major tokens. Bitcoin alone accounted for $205 million in long liquidations after plunging to $104,802. This sharp decline came within a 24-hour span, triggering chaos across perpetual futures markets. Nearly 196,183 traders were liquidated, according to data from Coinglass.
Source: Cointelegraph(X)
Besides the massive Bitcoin drop, Ethereum also saw significant activity, with $151.61 million in volume. Solana followed with $32.56 million, while XRP and Dogecoin posted $29.25 million and $21.42 million respectively. The market-wide heatmap displayed a mix of green and red, showing broad volatility. Notably, Bitcoin led trading volumes at $220.21 million, asserting its dominance amid the storm.
High Leverage Drives Liquidation Clusters
On Binance’s BTC/USDT liquidation map, heavy long liquidations appeared below the $106,202 price mark. Red bars between $95,000 and $105,000 revealed leverage pressure from 10x to 100x positions. Meanwhile, short liquidations spiked above $107,000. This created intense pressure zones, particularly around the $115,000 level. Orange and yellow bars, representing 50x and 100x positions, flared across the board, signaling leveraged volatility.
Source: Coinglass
The cumulative long liquidation line dropped from over $600 million to $300 million. Conversely, the short liquidation line trended upward. Additionally, 10x and 25x positions saw consistent liquidation across all ranges, exposing leveraged traders to heavy losses. This data indicates equal liquidation threats for both bulls and bears.
James Wynn’s $100M Blow Sparks Debate
One of the day’s largest losses came from trader James Wynn. He took a $100 million hit on Hyperliquid. Wynn entered a 4,604 BTC position at $108,335 with 40x leverage. His liquidation margin hit at $106,327, just before Bitcoin dipped below $105,000.
Moreover, Wynn had earlier closed a $1.25 billion long for a $13.4 million loss. He was once up by $40 million. Consequently, his strategy—while aggressive—exposes the real risks of extreme leverage. Wynn’s latest loss has reignited discussion on risk tolerance in high-stakes crypto trading. Hence, the broader sentiment remains cautiously bullish. Despite losses, green dominance across the heatmap signals underlying market strength. However, high leverage continues to be a double-edged sword.
