Just caught a massive $61.5M BTC position getting liquidated on a major CEX during Monday's crash. Bitcoin dumped from $68.6K down to $64.3K in just hours, and this single liquidated trade was the biggest hit in the past day. Pretty wild stuff.

The whole market got flushed hard that day—over $468M in liquidations across crypto futures, with about 93% coming from long positions. Looks like traders were still betting on upside when the selling started, then boom. Bitcoin futures took the biggest hit at $213M liquidated, followed by ETH and SOL. When you see numbers like that, you know retail and whales alike are getting caught off guard.

What's more concerning is the Fear and Greed Index crashed to 5, which is 'extreme fear' territory. That's only happened a handful of times since 2018. Meanwhile, short-term holders are still bleeding—averaging around $500M in daily losses according to chain data. The pattern seems to repeat: traders keep buying dips with leverage, then get liquidated on the next dump. Bitcoin's sitting 48% below its all-time high, so there's definitely room for more pain if this cycle keeps going. The leverage game is brutal right now.