Bitcoin Liquidations Explode: $1.27B Long Liquidations Hit Ahead of Possible Rebound

Bitcoin Liquidations Explode – On June 20, the crypto market witnessed one of its most volatile sessions this month as Bitcoin (BTC) plummeted to a monthly low of $102,225, triggering over $464 million in total liquidations. According to data from CoinGlass, long positions took the brunt of the impact, accounting for $392.9 million, while short liquidations came in at $73.4 million.

This massive flush-out affected 130,736 traders, with the largest single liquidation order occurring on Bybit’s BTCUSD pair, totaling $8 million. Despite the plunge, Bitcoin managed to find interim support near the $102K level, holding steady above the psychological threshold as markets assess the next move.

Axel Adler Highlights Rising Long Liquidation Dominance

Market analyst Axel Adler took to X (formerly Twitter) on June 21 to share his concerns about a notable shift in long liquidation dominance. According to Adler, the metric surged from 0% to 10% over the past week—a sign of rising pressure on overly leveraged bullish positions.

Adler noted that despite the surge in liquidations, BTC price stayed within a relatively tight band between $103,000 and $106,000, describing the price stability as a “positive signal” indicating that buyers remain resilient. He further commented that if long liquidation dominance continues to climb by another 5–7%, it may flush out remaining weak hands and signal a potential market reset.

Ethereum Leads Altcoin Sell-Off With $157M in Liquidations

The sell-off extended across the broader crypto market, with Ethereum (ETH) suffering the heaviest losses. ETH saw $157.8 million in liquidations, surpassing Bitcoin’s $124.1 million in the same period. The second-largest cryptocurrency dropped to a low of $2,363, before recovering slightly to around $2,412.

The altcoin market followed suit, recording fresh monthly lows, driven by macroeconomic uncertainty, including U.S. tariff announcements, geopolitical tensions, and a stronger U.S. dollar. Analysts noted that this increased risk-off sentiment contributed to sharp corrections across risk assets, particularly leveraged crypto positions.

June 18–19 Data Showed Early Warning Signs

The volatility wasn’t sudden. On June 18, Bitcoin fell below $105,000, triggering concerns among market participants. Analysts linked the move to rising U.S. Treasury yields, persistent inflation concerns, and escalating tensions in the Middle East.

That day alone saw $1.27 billion in long liquidations, with Ethereum falling 7.9% and Solana dropping 8.7%. The correction intensified on June 19, though slightly milder, still registering $126 million in total liquidations within 24 hours.

According to CoinGlass, longs made up $73 million, and shorts totaled $52.94 million. The largest single liquidation was on OKX’s ETH-USDT-SWAP pair, worth $1.25 million, impacting 55,361 traders in total.

BTC Remains Up 40% YTD Despite Short-Term Volatility

Despite the recent turbulence, Bitcoin remains up more than 40% year-to-date, demonstrating ongoing interest from institutional investors and long-term holders. Analysts are now watching the $102,000 support level closely. Should BTC lose that level decisively, some predict a potential slide toward the $90,000 range, where prior accumulation zones exist.

Axel Adler emphasized that a future decline in long liquidation dominance could mark a bullish turning point for Bitcoin futures markets, as it would indicate that excessive leverage has been fully cleared.

What’s Next for the Crypto Market?

The recent liquidation cascade reflects a high-stakes environment where macro risk factors intersect with over-leveraged trading behaviors. From U.S. tariffs on Chinese goods to growing instability in global trade dynamics, market participants are increasingly pivoting toward defensive strategies and risk management.

As of now, Bitcoin hovers around $103,100, with bulls battling to defend the key $102K support. The next few sessions could prove decisive in setting the tone for short-term market direction, especially as institutional sentiment, macro policy changes, and crypto regulatory headlines continue to drive volatility.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.