Bitcoin price drop below 73,000 dollars triggers nearly 1 billion dollars in liquidations

May 28, 2026, 4:23:45 PM UTC(4 hours ago)

Impact: Medium

Affected Assets

Total market liquidations reached approximately 958 million dollars over a 24 hour period with long positions accounting for 93 percent of the wipeout
Bitcoin specific liquidations totaled roughly 386 million dollars as the price fell to a six week low following geopolitical tensions
The market volatility was largely attributed to US airstrikes on Iran which sparked a broad selloff in risk assets and pushed Bitcoin out of the top 10 largest global assets
Over 167,000 individual traders were affected by the liquidation event with the largest single order being a 15.34 million dollar Bitcoin position on Hyperliquid
Analysts noted that the speed of the cascade suggests many traders were caught off guard while positioned for a market recovery

Nearly $1 billion in bitcoin longs were liquidated due to the shift in bitcoin’s price. @scottmelker breaks it down: https://t.co/7PXp3YMriC