Bitcoin Crash Wipes Out $660 Million

A sudden Bitcoin plunge below $77,000 has wiped out over $660 million in leveraged positions, catching overwhelmingly bullish traders completely off guard.

Alex Dovbnya · 18 May 2026 · 4 min read

Wire content from U.Today

Bitcoin Crash Wipes Out $660 Million

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By
Alex Dovbnya

Mon, 18/05/2026 – 5:21

A sudden Bitcoin plunge below $77,000 has wiped out over $660 million in leveraged positions, catching overwhelmingly bullish traders completely off guard.

Bitcoin Crash Wipes Out $660 Million

Cover image via depositphotos.com

Roughly $660 million worth of leveraged positions have been liquidated over the past 24 hours, according to data provided by CoinGecko. This happened during BTC’s plunge below the $77,000 level.

Bullish traders attempting to catch the dip were caught off guard, with long positions taking a severe beating.

According to data from CoinGlass, the sudden crash liquidated a staggering 106,876 individual traders within the past 24 hours.

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Earlier today, the flagship cryptocurrency reached an intraday low of $76,696.

E-mini Nasdaq-100 futures are currently in the red as well, which exerts more pressure on high-risk assets of the likes of Bitcoin and other cryptocurrencies.

Accelerating volatility

The vast majority of the damage occurred within a devastating 12-hour window that accounted for over $618.04 million in forced closures, with long positions taking a $569.88 million hit compared to just $48.16 million for shorts.

Over a full 24-hour period, the total wipeout reached $660 million. The bulls suffered the lion’s share of the damage, with $589 million in long liquidations. For comparison, there was only $71.89 million in short liquidations.