Wipeout: 396,000 Traders Lose Positions in $2 Billion Crypto Massacre
For nearly 400,000 crypto traders, Friday was a day of reckoning. As Bitcoin crumbled to $82,000, leveraged positions were liquidated en masse, with total losses nearing $2 billion.
The scale of the wipeout was immense, with one unlucky trader on Hyperliquid seeing a $36.78 million position vanish.
This liquidation storm pushed the entire crypto market below the psychologically important $3 trillion mark. The pain was fueled by a double-whammy: relentless selling from Wall Street, with Bitcoin ETFs experiencing $903 million in outflows, and broader economic uncertainty.
With Bitcoin down over 30% from its record high, the market is now facing its most brutal quarterly reversal in years, shattering the historical trend of a “Santa Rally” and leaving a trail of liquidated accounts in its wake.
