More than 1 billion dollars in crypto positions were liquidated in 24 hours, and longs took almost all of it. 💥
KuCoin reports crypto liquidations exceeded 1 billion dollars over 24 hours, with long positions accounting for 933 million dollars of it, while Bitcoin fell toward 73,700 dollars ahead of US inflation data. 📰 CryptoNews and KuCoin both report US spot Bitcoin ETFs recorded 1.28 billion dollars in weekly outflows, their largest weekly withdrawal since June, with BlackRock's IBIT accounting for about 1.21 billion dollars of the selling. My reading is that this was leveraged longs getting flushed plus one giant ETF seller, not the whole market walking away, and that is why Bitcoin is still holding above 73,510 dollars instead of breaking down to 70,000.
Are the liquidations done, or does CPI today flush another wave of longs? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
KuCoin reports crypto liquidations exceeded 1 billion dollars over 24 hours, with long positions accounting for 933 million dollars of it, while Bitcoin fell toward 73,700 dollars ahead of US inflation data. 📰 CryptoNews and KuCoin both report US spot Bitcoin ETFs recorded 1.28 billion dollars in weekly outflows, their largest weekly withdrawal since June, with BlackRock's IBIT accounting for about 1.21 billion dollars of the selling. My reading is that this was leveraged longs getting flushed plus one giant ETF seller, not the whole market walking away, and that is why Bitcoin is still holding above 73,510 dollars instead of breaking down to 70,000.
Are the liquidations done, or does CPI today flush another wave of longs? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #CryptoNews
