Bitcoin slipped below $82,000, and traders betting on higher prices paid for most of it. Crypto liquidations reached $771 million over 24 hours, and $685.6 million of that came from long positions.
That means close to nine of every ten liquidated dollars were longs. Shorts lost roughly $85 million by comparison, which shows how heavily traders were leaning toward upside before the drop.
When leverage piles up on one side like that, a dip can feed on itself because exchanges close positions automatically and add more selling. If you're trading this move with borrowed money, keep your position smaller and set your liquidation price further from the current price.
$BTC $GTC $OSMO
That means close to nine of every ten liquidated dollars were longs. Shorts lost roughly $85 million by comparison, which shows how heavily traders were leaning toward upside before the drop.
When leverage piles up on one side like that, a dip can feed on itself because exchanges close positions automatically and add more selling. If you're trading this move with borrowed money, keep your position smaller and set your liquidation price further from the current price.
$BTC $GTC $OSMO