Ethereum

Long

bullish

Billion

<h2 id="b-tldr-b">TLDR:</h2>
<ul>
 <li>Crypto liquidation heatmap recorded $1.28 billion in losses as market leverage rapidly unwound.</li>
 <li>Long positions suffered nearly $996 million in liquidations, far exceeding short-side losses.</li>
 <li>Bitcoin and Ethereum accounted for over $830 million of total liquidations during the selloff.</li>
 <li>More than 264,000 traders were liquidated as cascading margin calls accelerated declines.</li>
</ul>
Crypto liquidation heatmap data revealed one of the largest leverage flushes seen in recent weeks, with more than $1.28 billion erased from crypto derivatives markets in a single day. 
The event exposed excessive bullish positioning as traders faced a rapid wave of forced liquidations across major digital assets.
<h2 id="b-long-traders-bore-the-brunt-of-the-market-unwind-b">Long Traders Bore the Brunt of the Market Unwind</h2>
The <a href="https://blockonomi.com/bitcoin-btc-plunge-below-77k-sparks-657m-crypto-liquidation-wave-amid-iran-tensions/" rel="noopener noreferrer nofollow">crypto liquidation</a> heatmap showed a clear imbalance between bullish and bearish positions. Of the $1.28 billion liquidated during the period, nearly $996 million came from long positions, while short liquidations totaled about $289 million.
The figures suggest traders entered the session with strong expectations of further upside. However, once prices started weakening, leveraged positions quickly became vulnerable. 
As margin levels deteriorated, exchanges automatically closed positions to limit losses, accelerating selling pressure throughout the market.
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 <blockquote class="twitter-tweet">
 <img src="https://s.w.org/images/core/emoji/17.0.2/72x72/1f6a8.png" alt="🚨"> $1.36 BILLION got wiped out from the crypto market in the last 24 hours! <a href="https://t.co/zgOSMdDlCA" rel="noopener noreferrer nofollow">pic.twitter.com/zgOSMdDlCA</a>
 — The Moon Show (@TheMoonShow) <a href="https://x.com/TheMoonShow/status/2063157525449711940?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 6, 2026</a>
 </blockquote>
</div>
Data from liquidation trackers showed how quickly conditions worsened. What started as modest liquidations during the early hours evolved into a broad market deleveraging event. 
The process created a chain reaction where each forced sale contributed to further downside pressure, triggering additional liquidations.
More than 264,000 traders were reportedly liquidated during the move. The scale of participation indicates that both retail and larger market participants were caught in the downturn. One of the largest reported liquidations involved a <a href="https://parameter.io/bitcoin-btc-faces-pressure-as-options-data-signals-potential-decline-below-68k/" rel="noopener noreferrer nofollow">BTCUSD</a> position valued at approximately $9.02 million.
<h2 id="b-bitcoin-and-ethereum-dominate-liquidation-activity-b">Bitcoin and Ethereum Dominate Liquidation Activity</h2>
<a href="https://moneycheck.com/bitcoin-and-ethereum-etf-redemptions-end-as-fresh-capital-returns/" rel="noopener noreferrer nofollow">Bitcoin and Ethereum</a> accounted for the majority of losses displayed on the <a href="https://www.coinglass.com/liquidations" rel="noopener noreferrer nofollow">crypto liquidation heatmap</a>. Bitcoin registered approximately $476.53 million in liquidations, while Ethereum followed with around $354.02 million.
<img src="https://blockonomi.com/wp-content/uploads/2026/06/unnamed-2026-06-06T174238.312-300x105.png" alt="" width="494" height="173">
Source: <a href="https://www.coinglass.com/liquidations" rel="noopener noreferrer nofollow">CoinGlass</a>
Combined, the two largest cryptocurrencies represented more than $830 million of the total liquidations. Such concentration reflects the amount of leveraged capital typically deployed in major digital assets, particularly during periods of strong market optimism.
Separate heatmap snapshots also placed Ethereum at the top of liquidation rankings in certain intervals. This trend is often observed when traders seek higher returns through <a href="https://coincentral.com/ethereum-etfs-and-bitcoin-funds-halt-outflow-cycle/" rel="noopener noreferrer nofollow">ETH exposure</a> during bullish phases. As sentiment shifted, those positions faced heavier pressure.
The timeline of liquidations further demonstrated the speed of the move. Losses climbed from roughly $7.82 million in the first hour to $40.76 million within four hours. By the 12-hour mark, liquidations had surpassed $336 million before ultimately reaching $1.28 billion.
While the selloff caused substantial losses, the event also removed a significant amount of leverage from the market. 
The crypto liquidation heatmap captured a rapid transition from aggressive risk-taking to defensive positioning, illustrating how quickly sentiment can change within the digital asset sector.
The post <a href="https://blockonomi.com/1-36-billion-wiped-out-of-the-crypto-market-after-a-brutal-24-hour-flush/" rel="noopener noreferrer nofollow">$1.36 Billion Wiped Out of the Crypto Market After a Brutal 24-Hour Flush</a> appeared first on <a href="https://blockonomi.com" rel="noopener noreferrer nofollow">Blockonomi</a>.

$1.36 Billion Wiped Out of the Crypto Market After a Brutal 24-Hour Flush

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