Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%

Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9% The single biggest unwind was a $59.67 million BTC-USDT long on HTX. By Shaurya Malwa Jun 3, 2026, 5:00 a.m. 2 min read Make preferred on What to know : Nearly $1.84 billion in leveraged crypto positions were liquidated in 24 hours as bitcoin fell below $66,000 and ether dropped under $1,900, marking the largest wipeout since Feb. 5. Long positions bore the brunt of the damage, with about $1.66 billion in liquidations led by bitcoin, ether and solana longs, and a single $59.67 million BTC-USDT long closed on HTX. Binance, Hyperliquid and Bybit together handled the bulk of the liquidations as bitcoin slid from above $71,000 to around $65,700, and traders now see a break below $65,000 as potentially opening a path toward $60,000. Crypto traders hoping the market would catch up to the global stock rally were left nursing tears on Wednesday as a sharp price drop triggered the largest liquidation event since early February.