The shorts celebrated too early — then the market snapped back.
On election night, the price fell to $75,618, its lowest in seven weeks, as the midterm results came in. Late longs were wiped out — about $288 million in long positions liquidated in 24 hours. The shorts thought the breakdown had finally arrived.
Then, within three hours, the price snapped back to $78,039 — and by Wednesday's Wall Street open it was above $80,500. The trap flipped sides: about $233 million in short positions were liquidated on the rebound.
This morning $BTC trades near $80,500, $ETH near $2,420, and $SOL near $96.
Lesson: leverage punishes both sides when the market snaps back. The dip trapped the longs, the rebound trapped the shorts — the only side that survived was the one that sized its risk.
Did the snapback catch you off guard — or were you waiting for it?
#CryptoLesson #MarketSnapback #DailyCryptoNotes
Not financial advice — just my market notes.
On election night, the price fell to $75,618, its lowest in seven weeks, as the midterm results came in. Late longs were wiped out — about $288 million in long positions liquidated in 24 hours. The shorts thought the breakdown had finally arrived.
Then, within three hours, the price snapped back to $78,039 — and by Wednesday's Wall Street open it was above $80,500. The trap flipped sides: about $233 million in short positions were liquidated on the rebound.
This morning $BTC trades near $80,500, $ETH near $2,420, and $SOL near $96.
Lesson: leverage punishes both sides when the market snaps back. The dip trapped the longs, the rebound trapped the shorts — the only side that survived was the one that sized its risk.
Did the snapback catch you off guard — or were you waiting for it?
#CryptoLesson #MarketSnapback #DailyCryptoNotes
Not financial advice — just my market notes.
