Bitcoin (BTC) $87,181.76, the world’s largest cryptocurrency by market capitalization, experienced a sharp flash crash at 7:34 UTC on Hyperliquid, dropping from $83,307 to $80,255 within a single minute before quickly rebounding to around $83,000.

During the rapid move, Hyperliquid recorded five liquidations of $10 million each, with the largest single liquidation totaling $36.78 million, according to BlockPulse data.

Other major centralized exchanges saw a far milder decline, with Bitcoin prices holding comfortably above $81,000 throughout the event.