Crypto Bulls Rack up $600M Liquidations as Bitcoin Drops Under $104K

Crypto markets saw a wave of liquidations in the past 24 hours as bitcoin (BTC) prices slipped under $104,000, triggering over $600 million in forced closures of bullish futures positions to mark the highest losses since February.A total of $688 million in liquidations hit traders, with 89% of them on the long side — reflecting a heavily bullish market. The largest single liquidation order was a $12.25 million BTC/USDT on OKX, Coinglass data shows source: https://www.coindesk.com/markets/2025/05/31/crypto-bulls-rack-up-600m-liquidations-as-bitcoin-drops-under-104k