\n\t\t\t\t\t\t\t\t\tNaturally, almost all wrecked positions were longs. \t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
After it lost the crucial support at $70,000, bitcoin\u2019s situation has only worsened, with a fresh dive to a new multi-month low.<\/p>\n
Although many alts are in the red as well now, their losses are not as crucial, and BTC\u2019s dominance has further declined.<\/p>\n The chart above demonstrates bitcoin\u2019s dire state on multiple scales. On a large one, it shows that the asset stood above $82,000 a few weeks ago before it was rejected and driven south hard.<\/p>\n On a more micro scale, the chart suggests that BTC entered June (yesterday) at $74,000 and its crash to $67,500 minutes ago means a massive $6,500 decline in about 40 hours. It\u2019s worth noting that the cryptocurrency hasn\u2019t traded at such low levels in almost two months.<\/p>\n Meanwhile, most analysts have followed the overall bearish sentiment, indicating<\/a> that bitcoin could soon tank to $65,000 or even lower.<\/p>\n In addition, bitcoin\u2019s dominance over the market has slumped<\/a> to under 56% on CoinGecko. The metric is down by over 1% in a day and more than 2% in the past week alone. Although most alts are in the red now as well, many of them have fared better than BTC.<\/p>\n This caused some speculation that Strategy\u2019s decision to sell<\/a> a small portion of its bitcoin holdings might be among the reasons behind the asset\u2019s particularly painful decline.<\/p>\n Given the market\u2019s state and the quick pace at which BTC is crashing, it\u2019s no surprise that the total value of wrecked positions has skyrocketed. Data from CoinGlass shows that just over $1 billion worth of leveraged positions have been wiped out in the past day, with longs responsible for 90%.<\/p>\n More than 170,000 traders have been wrecked, while the single-largest liquidation order took place on Hyperliquid and was worth north of $27 million.<\/p>\n \u00a0<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\nYou may also like:<\/h3>\n
![\"Liquidation](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2026\/06\/BTCUSD-June-2-1-scaled.png\")
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