Bitcoin slides to $61,300 as $3B in crypto liquidations mount over 48 hours
Original: Bitcoin crash triggers billions in liquidations View original →
Bitcoin fell to $61,300 over June 3-4, 2026, triggering approximately $3 billion in crypto derivatives liquidations across two sessions. In the worst 24-hour window, $1.50 billion in long positions and $233 million in shorts were forcibly liquidated, wiping out 266,158 traders. Most liquidated assets: Bitcoin ($773M), Ether ($482M), Solana ($88M).
Three institutional-scale catalysts drove the move. First, Strategy — Michael Saylor's Bitcoin treasury company — sold 32 BTC, marking its first sale in nearly four years. The dollar amount was small, but the signal was large: the firm had been an unwavering buyer since 2020 and any policy reversal draws immediate institutional attention. Second, spot Bitcoin ETFs recorded net outflows exceeding $2 billion over the past two weeks — a sustained pace of institutional selling. Third, escalating Middle East military tensions weighed broadly on risk assets.
Total crypto market cap fell from $2.57 trillion on June 1 to $2.38 trillion, a $190 billion decline within the month. Bitcoin recovered partially to approximately $62,500, but CoinDesk's June 4 analysis reports that derivatives markets — open interest and funding rates — continue to flash bearish signals.
Key watchpoints: spot ETF flow direction the week of June 8, any clarification of Strategy's BTC sale policy, and resolution of the Iran geopolitical situation.
Not investment advice. Verify all figures with primary sources before acting.
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