[72630] Turmoil in the crypto market: Millions of dollars liquidated within an hour following a sharp drop in Bitcoin
[72630] Turmoil in the crypto market: Millions of dollars liquidated within an hour following a sharp drop in Bitcoin
The digital currency market experienced violent turmoil with the liquidation of hundreds of millions of dollars in long positions, after the Bitcoin price plunged below the $73,000 threshold.
Turmoil in the crypto market: Millions of dollars liquidated within an hour
A dramatic day in the digital currency market: on May 28, 2026, mass liquidations of leveraged positions were recorded, following a sharp decline in the value of Bitcoin. According to WatcherGuru, over $250 million were liquidated in just 15 minutes, a figure that later worsened to the liquidation of $500 million in long positions within 90 minutes.
The sharp declines led to a plunge in Bitcoin's value. As reported by BullTheoryio, the currency lost approximately $1,600 of its value and dropped below the $73,000 threshold, which led to the liquidation of an additional approximately $480 million in long positions. The reporting channel AshCrypto defined the event as "diabolical" after identifying a liquidation of $263 million within just one hour.
The market is on high alert, with investors pointing to the risks inherent in high leverage. She_is_Fortune noted that 75% of the current price range was built by leveraged positions, which increases the fear of further violent "washouts" in the market.
While some investors express concern that this is the end of the positive trend, as described by timon_nick in his description of the "tough bear market", others are trying to remain optimistic. The channel waleswoosh shared an extreme example of an investor who survived the liquidation by a margin of only $0.0004, and called for the market to continue towards new all-time highs (ATH).