Bitfinex experienced a sharp price distortion on its BTC-PERP perpetual futures contract, briefly spiking to $153,960 while spot Bitcoin was trading around $85,000. The incident, caused by a liquidity shortage and a cascade of forced liquidations, lasted less than a minute before arbitrage bots corrected the anomaly. Across the broader market, 117,116 traders were liquidated over 24 hours, totaling $688.07 million, with short positions accounting for $598.27 million. The incident remained isolated and did not affect the spot market, with the BFX composite index staying stable below $84,406.
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