Bybit CEO Estimates Crypto Liquidations Between $8-10 Billion
Bybit CEO Ben Zhou estimates that crypto liquidations could reach $8-10 billion, significantly higher than reported figures. He noted that major exchanges limit the public sharing of liquidation data, which obscures actual losses.
- Zhou compared the current situation to the 2022 FTX collapse, stating real losses then were 4-6 times greater than disclosed.
- Bybit aims for increased transparency regarding liquidation data moving forward.
- Current market downturn is influenced by the DeepSeek AI project and new tariffs imposed by President Trump.
- Official reports indicate around $2 billion in losses, but Zhou contests this, claiming the true figure is much higher, with Bybit alone facing $2.1 billion in liquidations within 24 hours.
- Coinglass recorded only about $333 million due to API limitations on data sharing.
- If Zhou's estimates hold, the market may be in a deeper crisis, echoing warnings from Arthur Hayes about potential further declines in Bitcoin's price due to political and economic instability.
- Despite recent downturns, Bitcoin's value remains nearly double what it was six months ago, indicating long-term growth potential.
The crypto market has historically recovered from bear markets, leading some investors to view current dips as opportunities.