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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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- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
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