- A Bitcoin trader lost $15.6 million in eight liquidations as a Wall Street selloff triggered $1.08 billion in crypto losses.
- Bitcoin plunged to $75,572, putting the $75,000 support level in focus.
A Bitcoin trader lost approximately $15.6 million after eight successive liquidations wiped out a position worth 201 BTC. The incident occurred as a sharp Wall Street selloff triggered widespread losses across the cryptocurrency market, pushing total liquidations above $1 billion in just 24 hours.
The massive wipeout highlights the risks of leveraged trading during periods of extreme volatility, particularly when falling stock markets put additional pressure on crypto prices.
One Trader Loses 201 BTC in Eight Liquidations
One trader suffered eight consecutive liquidations, losing 201 BTC worth approximately $15.6 million.
A gambler just suffered a series of liquidations—getting liquidated 8 times for a total of 201 $BTC ($15.6M). https://t.co/BHgijHjrOo https://t.co/f7eIaBpAih
— Lookonchain (@lookonchain) November 5, 2026
The liquidations happened as Bitcoin and other major cryptocurrencies faced heavy selling pressure. The trader’s leveraged positions could no longer meet margin requirements, forcing the exchange to close them.
The incident highlights how quickly leverage can wipe out large trading accounts during sudden market declines. Platforms such as Hyperliquid allow traders to take leveraged positions, increasing both potential gains and losses.
However, the damage extended far beyond one account. More than 209,826 traders were liquidated over 24 hours, with total losses reaching approximately $1.08 billion.
Long positions accounted for $956 million, representing 88% of all liquidations. Short positions contributed another $130.78 million.
Bitcoin recorded the largest share of liquidations at $282.37 million, followed by Ethereum at $173.75 million. Notably, long positions accounted for 89.4% of Bitcoin’s liquidations.
Binance recorded the largest share of overall liquidations, accounting for 44.3% of the total.
Nasdaq Selloff Sends Bitcoin Below $76,000
The latest crypto market crash followed a sharp decline in US stock markets on November 5.
The Nasdaq Composite plunged nearly 5% intraday, marking its worst session in months. AI and chip stocks led the decline as uncertainty following the midterm elections and concerns about the sustainability of the AI boom weighed on investor sentiment.
The S&P 500 also dropped approximately 3.8%, spreading the selling pressure across financial markets.
Bitcoin initially climbed above $80,000 following the election results. However, the rally quickly reversed as the Wall Street selloff intensified. BTC subsequently dropped to $75,572, giving up its recent gains.
Ethereum also fell to $2,239, while Solana recorded a 5.9% decline. The largest individual liquidation during the selloff was a $10.94 million Ethereum long position on Binance.
The sharp reversal caught leveraged traders on the wrong side of the market, triggering further forced closures.
Can Bitcoin Hold the $75,000 Support Level?
Despite the heavy liquidations, market sentiment has not completely collapsed. Crypto analyst Michaël van de Poppe said his Bitcoin outlook remained unchanged, pointing to leverage trading as a major factor behind the latest volatility.
He identified $75,000 as an important level for potential long positions, noting that it also aligns with the Nasdaq’s targeted low near 26,500.
Meanwhile, the Crypto Fear & Greed Index stood at 50, indicating neutral sentiment. This represents a notable decline from 73 a month earlier. The index had also dropped to 34 just one day before, signaling fear among market participants.
For Bitcoin, holding the $75,000 area could help stabilize the market after the latest selloff. However, another decline in US equities could put additional pressure on cryptocurrency prices.
With long positions accounting for most recent liquidations, traders remain exposed to further volatility. The coming sessions will show whether Bitcoin can recover its $80,000 level or face another test of support.
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