A wave of forced closures just ran through Ether, and it hit the buyers. Over the last 30 minutes the major venues liquidated $7.9M of leveraged $ETH long positions, meaning exchanges shut them once the collateral behind them could no longer cover the move.
The opposite side was close to untouched. Only $101.6K of $ETH short positions were closed the same way in that half hour.
That gap puts the pressure squarely on traders who borrowed to bet on a higher Ether price.
The opposite side was close to untouched. Only $101.6K of $ETH short positions were closed the same way in that half hour.
That gap puts the pressure squarely on traders who borrowed to bet on a higher Ether price.
