Bitcoin Slides Below $105K, Triggering $692M Crypto Market Wipeout

Crypto markets experienced a significant shakeup on May 30th, 2025, as Bitcoin’s price dropped below $105,000. The drop triggered over $692 million in liquidations across various cryptocurrencies, with Bitcoin alone accounting for nearly $205 million in long positions liquidated. High-leverage traders saw particularly heavy losses, exemplified by trader James Wynn, who incurred a massive $100 million loss after his 4,604 BTC position at 40x leverage was liquidated near the key support level of $106,327.