Bitcoin Liquidations Dethroned? A Tokenized Bet Just Posted Crypto’s Biggest Loss

Tokenized Brent oil futures on Hyperliquid generated about $46.6 million in liquidations in 24 hours, making oil the third‑most liquidated asset after ether at $104.5 million, and Bitcoin at $98.3 million. Hyperliquid’s Oil Perps Dethrone Bitcoin The single largest liquidation across all assets in the past 24 hours was not Bitcoin or Ethereum, but a $17.17 million Brent oil position on Hyperliquid, according to Binance Square. This marks the second time in under a month that oil has produced the biggest individual wipeout on a crypto venue. Related Reading: Hyperliquid Puts Wall Street Onchain — Will This Warp Crypto Volatility Next? The report also claims that there is a total of $403 million dollars in liquidations across 137,031 traders, with longs taking roughly $234.6 million in losses versus $168.7 million for shorts, following CoinGlass data. The cascade followed President Trump’s national address vowing to hit Iran “extremely hard”, which reversed the trader’s expectations of a