Kalshi Crypto Volume Hits $107M Amid $1.76B Liquidation

• Kalshi set an all-time high with $107.6 million daily crypto event contract volume on June 2, 2026, as the year’s largest liquidation hit.
• Bitcoin fell below $67,000 and ETFs logged sustained outflows, pushing traders toward capped-risk event contracts.

On June 2, 2026 (UTC), Artemis reported that Kalshi’s crypto event contract platform reached a record $107.6 million in spot volume—the highest ever—matching the biggest daily liquidation event so far this year as Bitcoin dropped below $67,000 and total crypto liquidations soared to $1.76 billion.

The downturn wiped out leveraged positions, largely impacting long traders. Institutional demand for Bitcoin faded further, with spot market ETFs posting persistent outflows; Bitcoin ETFs saw their twelfth straight losing day, while Ethereum ETFs marked sixteen consecutive days of outflows during the same window.

Amid the turbulence, Mt. Gox’s bankruptcy estate transferred 10,306 BTC, valued at approximately $731 million. Blockchain data showed these coins were not moved directly to exchanges, minimizing extra immediate selling pressure.

Surging volatility shifted traders toward Kalshi’s event contracts, which offer capped downside risk. Artemis data confirmed that spot volume spiked on Kalshi precisely as liquidations forced sellers out, reinforcing its role as a volatility venue for safer directional exposure and hedging during unstable sessions.

Market research from CNBC and the New York Post indicated that Kalshi’s record volume is still primarily driven by retail participants, though the platform is moving toward greater institutional engagement—highlighted by its first block trade in April and plans for perpetual futures contracts. Sustained elevated volumes, particularly outside liquidation-driven spikes, may signal a broader shift as participants migrate from leveraged derivatives toward capped-risk event contracts amid macro uncertainty and ETF outflows.

As of June 3, 2026, 21:09 UTC, Bitcoin (BTC) trades at $65,460.41, down -3.09% in the last 24 hours. Ethereum (ETH) trades at $1,799.72, down -5.55%, according to the latest market data.