Crypto liquidations hit $550M as Bitcoin price dips below $84K

Bitcoin fell 2.3% in two hours amid suspicion over the appearance of leveraged BTC short positions on Hyperliquid.

The top 3

1. Bitcoin Dips Below $84K Triggering $550M Liquidations: Bitcoin's price dropped 2.3% within two hours, leading to widespread liquidations primarily driven by leveraged short positions on the decentralized exchange Hyperliquid.
2. Biggest Single-Day Crypto Liquidation Events: History shows that massive liquidation events often occur during rapid leverage unwinding, with several milestones exceeding $1 billion in losses.
3. Top Decentralized Exchange (DEX) Platforms by Volume: As decentralized finance matures, exchanges like Hyperliquid have challenged traditional CEX dominance by offering high-speed perpetual trading.

Sources

• Cointelegraph
• The Block

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