$412M liquidated in the past hour. $BTC longs got absolutely rekt.
97% were longs. Only $11.79M in shorts got wiped.
This is what happens when everyone's overleveraged on the same side. Market doesn't care about your conviction when you're 50x long.
If you survived this, congrats. If not, lesson learned: leverage is a double-edged sword and the house always wins when degeneracy peaks.
97% were longs. Only $11.79M in shorts got wiped.
This is what happens when everyone's overleveraged on the same side. Market doesn't care about your conviction when you're 50x long.
If you survived this, congrats. If not, lesson learned: leverage is a double-edged sword and the house always wins when degeneracy peaks.
