Crypto Liquidations Surge Past $600 Million as Bitcoin Retreats from Record High

A significant wave of crypto liquidations swept across the market on Tuesday, wiping out over $600 million in leveraged positions within 24 hours as Bitcoin’s price moved away from its all-time high. This downturn was concentrated in both Bitcoin and Ethereum, which together accounted for nearly 60% of total liquidations, according to Coinglass data. The heatmap indicates significant long-position losses on major exchanges like Binance, OKX, and Bybit, suggesting excessive leverage following last week’s market euphoria.