Bitcoin crashed below 69,000 dollars, and 1.41 billion dollars of liquidations followed in 24 hours. 💥
Crypto Times, citing CoinGlass data, reports Bitcoin fell 6.8 percent to 68,663 dollars on Friday 13 November, with 1.41 billion dollars liquidated across 172,922 traders and 89 percent of it longs. 📉 Binance accounted for 36.2 percent of all liquidations, and the single biggest casualty was a 31.09 million dollar Bitcoin long on Hyperliquid. CoinGecko data checked at 17:00 PKT puts Bitcoin near 69,275 dollars, recovering from an intraday low of 67,628 dollars, its lowest since 19 August, with a 24 hour range of 67,922 to 73,220 dollars. My reading is that this was a leverage flush, not a slow exit, because longs piled up near 73,000 dollars and the break below 70,000 liquidated them in waves, and flushes usually end when the leverage is gone, not when the news turns good.
Is the leverage finally flushed at 67,628, or does one more wave wait below 68,500? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
Crypto Times, citing CoinGlass data, reports Bitcoin fell 6.8 percent to 68,663 dollars on Friday 13 November, with 1.41 billion dollars liquidated across 172,922 traders and 89 percent of it longs. 📉 Binance accounted for 36.2 percent of all liquidations, and the single biggest casualty was a 31.09 million dollar Bitcoin long on Hyperliquid. CoinGecko data checked at 17:00 PKT puts Bitcoin near 69,275 dollars, recovering from an intraday low of 67,628 dollars, its lowest since 19 August, with a 24 hour range of 67,922 to 73,220 dollars. My reading is that this was a leverage flush, not a slow exit, because longs piled up near 73,000 dollars and the break below 70,000 liquidated them in waves, and flushes usually end when the leverage is gone, not when the news turns good.
Is the leverage finally flushed at 67,628, or does one more wave wait below 68,500? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
