Bitcoin’s price reached nearly $79,500 on Tuesday, posting gains of over 13% in 24 hours before retracing slightly below $78,000. This surge triggered massive liquidations: over $330 million in a single hour and nearly $1.5 billion over the day. Approximately $825 million of these liquidations involved Bitcoin positions, and over 170,000 traders were wiped out. The largest single liquidation, with a face value of $23.59 million, occurred on Hyperliquid. Binance leads among exchanges in liquidation volume, followed by Hyperliquid.
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