$19.78M of ETH longs wiped out in a single hour. Shorts lost just $10K.
Late Tuesday, across Binance, Bybit and OKX, long liquidations hit $19.78M while Binance's ETH/USDT quote slid from $2,268 to $2,232 (-1.58%) in an hour (EconoTimes).
Meanwhile spot ETH ETFs have logged six straight days of outflows.
My take: leverage on the long side is getting flushed, and that usually needs to finish before a base forms. Watch whether $2,200 holds on a daily close.
Does $ETH hold $2,200 through Friday, yes or no?
Not financial advice.
#ETH #Liquidations #Ethereum
Late Tuesday, across Binance, Bybit and OKX, long liquidations hit $19.78M while Binance's ETH/USDT quote slid from $2,268 to $2,232 (-1.58%) in an hour (EconoTimes).
Meanwhile spot ETH ETFs have logged six straight days of outflows.
My take: leverage on the long side is getting flushed, and that usually needs to finish before a base forms. Watch whether $2,200 holds on a daily close.
Does $ETH hold $2,200 through Friday, yes or no?
Not financial advice.
#ETH #Liquidations #Ethereum