Coinglass data shows that crypto derivatives tied to SPCX saw nearly $6 million in liquidations over the past hour, outpacing both Bitcoin and Ether during the same period. Specifically, the SPCX trading pair accounted for $4.24 million in liquidations, while the XYZ:SPCX pair contributed another $1.6 million. By comparison, BTC liquidations stood at $4.86 million and ETH liquidations reached $4.35 million. The move is notable because it came as U.S. tech stocks faced a so-called "Black Tuesday," while Bitcoin and the broader crypto market remained relatively stable. The figures suggest that liquidation pressure during the observed window was concentrated more heavily in SPCX-linked contracts than in the two largest crypto assets.
On July 7, Coinglass data showed that global SPCX futures liquidations approached $6 million over the past hour. Within that total, liquidations in the SPCX trading pair reached $4.24 million, while the XYZ:SPCX pair recorded another $1.6 million, making SPCX-related contracts one of the most heavily liquidated segments during the period.
Over the same timeframe, BTC futures liquidations came in at $4.86 million and ETH futures liquidations totaled $4.35 million. The comparison stood out because, despite a “Black Tuesday” sell-off in U.S. technology stocks, Bitcoin and the broader crypto market were relatively steady. Against that backdrop, liquidation pressure was more concentrated in SPCX than in either BTC or ETH during the one-hour window.
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