The decline in BTC value led to liquidations totaling more than $500 million. Most of the forcibly closed positions were in BTC and ETH, resulting in substantial trader losses. Notable altcoins like SOL and DOGE also experienced significant liquidations. The majority of these liquidations occurred on platforms like OKX, Bybit, Binance, and Huobi. The drop in BTC price earlier today dropped below $66,000 due to significant outflows from spot ETFs. The market saw large liquidations on platforms like Binance, causing funding rates to decrease. As of now, the BTC price has slightly recovered to around $67,000.