On June 5th, Bitcoin (BTC) futures traders saw a major liquidation imbalance. In just an hour, the $5.51 million position was cleared, with $5.35 million from the long and just $157,000 from the shorts. The resulting 3,399% imbalance is one of the most unusual hourly imbalances seen in recent trading sessions.
This happened during a significant drop in BTC prices. In just an hour, Bitcoin experienced a sellout, moving from over $104,800 to a low of nearly $103,800 before a slight recovery. The lower trend was shown in succession with several red candles. This is not a sudden surge in volatility, but a sign of continuous sales pressure.
And of course, there was a lot of liquidation activity across the market, beyond Bitcoin. Ethereum (ETH) totaled $6.43 million, followed by Solana (SOL) at $2.65 million. Small assets, including 1000pepe futures, also saw liquidation in hundreds of thousands.
More than $22.6 million was liquidated in the same one-hour window, with 95% of this being long-term exposure, according to Coinglass data. This points to a very bullish market bias before rewinding.
In the past 24 hours, total liquidation reached $204.56 million. The long position accounts for that figure of $144.53 million, while the shorts account for the remaining $60.03 million. Meanwhile, 90,800 traders were liquidated.
The largest single order was HTX, which closed its BTC-USDT position worth $2.21 million.