Kalshi Crypto Contracts Hit $108M as Liquidations Surge

• Kalshi’s crypto contract volume reached a record $107.6 million during major market-wide liquidations
• Bitcoin and Ethereum ETFs saw persistent outflows amid accelerating sell-offs and on-chain Mt. Gox movements

On June 2, 2026 (UTC), CoinDesk reported that Kalshi reached $107.6 million in daily spot crypto contract volume, coinciding with the largest crypto market liquidation since February. Bitcoin fell below $67,000, erasing $137 billion in total market cap, as $1.76 billion in leveraged positions were cleared—primarily on the long side, based on CoinGlass data.

ETF outflows set the context, with Bitcoin recording 12 consecutive days of departures and Ethereum seeing 16 straight sessions of withdrawals. This trend signaled weakening institutional demand and further destabilized the market during heightened volatility.

On-chain analysis from CryptoQuant showed that Mt. Gox moved 10,306 Bitcoin valued at $731 million, deepening market unease despite the absence of immediate exchange sales. This development, combined with headline risk, fueled liquidation activity as traders unwound leveraged exposure.

Metrics from Artemis indicated that as traders exited perpetual and futures positions, many rotated toward risk-capped, event-driven binary contracts on Kalshi. The platform’s spot volume surge reflected broad deleveraging across the space, rather than an isolated trading anomaly. Kalshi’s weekly high of $454.2 million in mid-May reinforces the trend toward regulated, event-based speculation during volatile periods.

As of June 3, 2026, 18:09 UTC, Bitcoin (BTC) is trading at $65,935.02—down 2.3% in 24-hour volume—while Ethereum (ETH) is at $1,828.40 with a 5.0% decline, according to CoinMarketCap.