Crypto Liquidation Wave: $1.27 Billion Wipeout as Bitcoin Crashes

A massive crypto liquidation wave hit the markets in early November, triggered by a sharp decline in Bitcoin prices from around $112,000 to below $104,000. This resulted in over $1.27 billion in leveraged futures positions being forced closed across various exchanges. The largest liquidations were concentrated on Hyperliquid ($374 million), Bybit ($315 million), and Binance ($250 million). 90% of the total liquidation value, or approximately $1.14 billion, was attributed to long traders.