Liquidations just cooled to 164.9 million dollars, and that tells its own story. 💥
MyCoinDeck data, tracking 15 exchanges, shows about 164.9 million dollars liquidated in 24 hours, with about 64 percent, or 105.6 million dollars, coming from long positions, down from close to 1 billion dollars a day earlier. 📊 When liquidations fall this far this fast, it means the forced selling has mostly finished, because the overleveraged longs are already out and there is nobody left to cascade. Bitcoin barely moved while fear stayed at 25, which fits a market that has stopped panicking but has not started buying again. My reading is that the market is now in a quiet pocket, and quiet pockets end in one of two ways, either buyers step in at the 50 week line, or a fresh headline restarts the selling.
Does quiet liquidation mean the selling is done, or just paused for the weekend? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
MyCoinDeck data, tracking 15 exchanges, shows about 164.9 million dollars liquidated in 24 hours, with about 64 percent, or 105.6 million dollars, coming from long positions, down from close to 1 billion dollars a day earlier. 📊 When liquidations fall this far this fast, it means the forced selling has mostly finished, because the overleveraged longs are already out and there is nobody left to cascade. Bitcoin barely moved while fear stayed at 25, which fits a market that has stopped panicking but has not started buying again. My reading is that the market is now in a quiet pocket, and quiet pockets end in one of two ways, either buyers step in at the 50 week line, or a fresh headline restarts the selling.
Does quiet liquidation mean the selling is done, or just paused for the weekend? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
