币圈“历史最大爆仓”，谁亏得最惨？“永续合约新贵”Hyperliquid是重灾区

Core Viewpoint - The cryptocurrency market experienced a historic liquidation event, with nearly $20 billion in leveraged positions wiped out, leading to significant losses for traders and raising concerns about market stability [1][2][9]. Market Overview - Bitcoin's price plummeted from a historical high of $126,000 to around $105,000, with a subsequent rebound to over $110,000 [2][18]. - Ethereum also saw a sharp decline, dropping from approximately $4,700 to below $3,500 [4]. - The liquidation event primarily affected long positions, with over 1.6 million traders liquidated [2][9]. Impact on Altcoins - The altcoin market faced severe losses, with notable declines in various cryptocurrencies: - ATOM fell from $4 to $0.001 - SUI dropped from $3.4 to $0.56 - APT decreased from $5 to $0.75 - SEI fell from $0.28 to $0.07 - LINK dropped from $22 to $8 - ADA decreased from $0.8 to $0.3 [7][8]. Hyperliquid Exchange - Hyperliquid, a relatively small perpetual contract exchange, recorded the highest liquidation amount of $10.31 billion, surpassing larger competitors like Bybit and Binance [10][11]. - The platform's automatic deleveraging mechanism has been criticized for exacerbating the market crash, leading to significant losses for traders [16][17]. Trader Outcomes - Despite the overall market turmoil, the top 100 traders on Hyperliquid collectively earned $1.69 billion, while the top 100 losers lost $743 million, resulting in a net profit of $951 million concentrated among a few highly leveraged short sellers [17]. - The largest gainers and losers highlighted the stark contrast in outcomes for traders during this event [17]. Future Market Sentiment - Market analysts express concerns about potential further declines, with Bitcoin's next major support level identified at $100,000. A drop below this level could signify the end of the recent bull market cycle [19]. - The event has raised questions about counterparty risk and the potential for broader contagion in the cryptocurrency market [19].