Bitcoin Loses $106K as Bullish Crypto Bets Rack up $800M in Liquidations
Bitcoin dropped below $106,000 in early European hours Friday as leveraged traders once again faced heavy losses, with nearly $1.2 billion in crypto positions wiped out over the past 24 hours.
Data shows that most of the damage came from long positions, reflecting how aggressively traders had positioned for a bounce earlier in the week.
According to CoinGlass, almost 79% of total liquidations were long trades, affecting more than 307,000 accounts. The largest single hit was a $20.4 million ETH-USD long on Hyperliquid, a decentralized derivatives exchange that has quietly become one of the main engines of leveraged trading in crypto.
Bitcoin accounted for roughly $344 million in losses, followed by Ether at $201 million, and…
