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Single Bitcoin Trader Loses $200M as Crypto Bulls See $1B Liquidations
Massive liquidations dampened bullish momentum from Circle’s IPO and revived optimism around DeFi tokens, as over 247,000 traders were wiped out.
Updated Jun 13, 2025, 1:04 p.m. Published Jun 13, 2025, 8:11 a.m.
What to know:
- Crypto markets faced significant losses with over $1.15 billion in liquidations on Thursday, impacting leveraged positions across major exchanges.
- A bitcoin long position on Binance, valued at $200 million, was the largest single liquidation, highlighting the volatility in the market.
- Over 247,000 traders were liquidated, with long traders suffering over $1 billion in losses due to overly optimistic positions.
Crypto bulls took a heavy beating on Thursday with over $1.15 billion in liquidations wiping out leveraged positions across major exchanges, marking one of the bloodiest days for crypto markets in recent months.
The largest single liquidation was a bitcoin long position on Binance, valued at $200 million, making it one of the biggest one-off losses in the year so far. It is unclear which trading firm or individual was behind that position, as exchanges don’t make that data public.
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Data from Coinglass shows over 247,00 traders were liquidated in the 24-hour span. Long traders bore the brunt, accounting for over $1 billion in losses — reflecting overly optimistic positioning after a week of bullish sentiment fueled by Circle’s high-profile IPO and a resurgence in U.S.-focused DeFi narratives.
BTC lost more than 3% to trade at $104,700 in Asian afternoon hours, while ether sunk 8% to $2,530. Tokens like solana's SOL and dogecoin also slid over 8%, while XRP fell to $2.20.
Crypto exchanges Binance and Bybit accounted for more than $834 million in liquidated trades, the most among counterparts.
Liquidations occur when traders use borrowed funds to bet on asset prices and fail to maintain a sufficient margin to cover their positions. Exchanges then forcibly close positions to prevent further losses, a built-in risk feature that often results in chain reactions during volatile moves.
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