Crypto liquidations swept across the market after Bitcoin fell to a two-month low, with nearly $1.6 billion in long positions wiped out.
Around $1.8 billion of leveraged trades have been liquidated on June 2 in the crypto market, marking one of the biggest wipeouts in 2026 until date, as Bitcoin sparked another wave of liquidations.
Over 272,000 traders were liquidated during the crash, per CoinGlass data. Long positions were the major casualties with $1.57 billion of liquidations being recorded against $215.7 million in shorts.
BTC▼$64,050.00 was the primary cause of the wipeout, with over $833 million in liquidations, followed by ETH▼$1,812.70 that accounted for almost $480 million in liquidations. SOL▼$71.62 was also affected with over $90 million in liquidations, the data shows.
The largest single liquidation order happened on HTX▼$0.00000176, the crypto exchange linked to TRON founder Justin Sun, where a BTC position worth $59.67 million in USDT▲$0.9986 was wiped out.
The wipeout came as BTC price today fell to about $66,860, pushing Bitcoin price back to levels last seen in early April.
Crypto Liquidations Rank Among 2026’s Largest
The wipeout appears to rank among the largest crypto liquidation events of 2026 so far.
For instance, in February, crypto market volatility had also triggered about $2.5 billion in Bitcoin liquidations. Other January and February selloffs also crossed the $1 billion mark, including a January event with more than $1 billion in liquidations and a February drop that pushed Bitcoin below $64,000.
However, the latest wipeout seems quite modest compared to the infamous crypto market crash of Oct. 10 and Oct. 11, 2025, which resulted in over $19 billion in forced liquidations.
Bitcoin is currently trading within the range where it saw buying interest earlier in April. Failure of the level may signal a larger downtrend, but holding the level can indicate that the liquidation was just a forced reset.
Read more: BTC Price Slides Below $67K as Analysts Debate Why Bitcoin Is Dropping
