Bitcoin Trader Lost $15 Million in Minutes After the Wall Street Crash
A single trader lost 201 BTC, worth about $15.6 million, in eight successive liquidations as a sharp Wall Street selloff rattled crypto markets.
The wipeout came as a sharp Wall Street selloff spread to crypto markets, demonstrating how quickly high leverage can erase large positions during sudden market swings. According to Lookonchain, the trader suffered eight forced closures amid heavy panic selling, losing almost the entire account value.
The case highlights the risks of high leverage on platforms such as Hyperliquid, where sudden price moves can trigger cascading automatic margin calls. Meanwhile, the broader damage across the crypto market was substantial.
Market-wide Liquidations
According to CoinGlass data, 209,826 traders faced liquidation in 24 hours, totaling $1.08 billion. Long positions accounted for $956 million, or 88% of the total, while shorts contributed only $130.78 million.
Bitcoin led with $282.37 million in liquidations, followed by Ethereum at $173.75 million. Notably, 89.4% of the Bitcoin liquidations came from long positions. Binance captured the largest share of overall liquidations, at 44.3%.
Wall Street Spillover
The stress originated on Wall Street, where the Nasdaq Composite plunged nearly 5% intraday on November 5, marking its worst session in months. AI and chip stocks led the decline amid post-midterm uncertainty and growing doubts about the AI boom.
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