$16,700 Bitcoin Crash Wipes Out $5B in Futures

[kevin1]

Bitcoin (BTC $111,698) plunged 13.7% in under 8 hours Friday, crashing to $105K and wiping out nearly $5B in liquidations. The sharp drop erased 13% of total futures open interest, with decentralized platforms like Hyperliquid force-closing over $2.6B in longs.

Portfolio margin failures and illiquid collateral triggered cascading auto-deleveraging across CEXs and DEXs, forcing even profitable traders out of positions.

[Nahid10]

That sudden drop liquidated overleveraged traders instantly — leverage remains the biggest silent killer in crypto.

[EmTeam]

A $5B futures wipeout in hours shows how fragile confidence becomes when stop-losses cascade.