The long flush in crypto is getting bigger, not smaller. Exchanges just closed $191.1M of leveraged bets on higher prices by force in 60 minutes, across 907 coins on the major venues. Traders positioned for a drop lost $8.4M, so 96% of the damage fell on buyers.
At our 14:41 UTC alert, this same 60 minute window stood at $85.4M. It's now $199.6M, and $184.5M of that came in the last 30 minutes.
Bitcoin longs lost $46.6M and Ether longs $32.4M. The two largest single closures both hit Binance at 14:57 UTC, a $4.9M $BTC long near $78,025 and a $4.8M $ETH long near $2,333. Bitcoin last traded at $78,057, down 1.74% over 24 hours, with a session low of $78,011.
At our 14:41 UTC alert, this same 60 minute window stood at $85.4M. It's now $199.6M, and $184.5M of that came in the last 30 minutes.
Bitcoin longs lost $46.6M and Ether longs $32.4M. The two largest single closures both hit Binance at 14:57 UTC, a $4.9M $BTC long near $78,025 and a $4.8M $ETH long near $2,333. Bitcoin last traded at $78,057, down 1.74% over 24 hours, with a session low of $78,011.
