Liquidations just hit 1.64 billion dollars in 24 hours, and 88.7 percent of it was longs. 💥
CoinDesk, citing CoinGlass data, reports 1.64 billion dollars of liquidations across the crypto market in 24 hours, with longs taking 88.7 percent of the damage, including 916 million dollars in Bitcoin and 289 million dollars in Ether. 📉 FXStreet counts 185,595 traders liquidated, and the single biggest casualty was a 31.09 million dollar Bitcoin long on Hyperliquid. CoinGecko data checked at 20:00 PKT puts Bitcoin near 69,121 dollars, holding above the 67,568 dollar low, its lowest since 19 August. My reading is that the dollar above 103 did the damage, because a stronger dollar plus Fed hike pricing drains risk appetite everywhere, and leveraged longs who bought the 73,000 dollar top paid for it in waves.
Is the leverage finally flushed at 67,568, or does one more wave wait below 68,500? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
CoinDesk, citing CoinGlass data, reports 1.64 billion dollars of liquidations across the crypto market in 24 hours, with longs taking 88.7 percent of the damage, including 916 million dollars in Bitcoin and 289 million dollars in Ether. 📉 FXStreet counts 185,595 traders liquidated, and the single biggest casualty was a 31.09 million dollar Bitcoin long on Hyperliquid. CoinGecko data checked at 20:00 PKT puts Bitcoin near 69,121 dollars, holding above the 67,568 dollar low, its lowest since 19 August. My reading is that the dollar above 103 did the damage, because a stronger dollar plus Fed hike pricing drains risk appetite everywhere, and leveraged longs who bought the 73,000 dollar top paid for it in waves.
Is the leverage finally flushed at 67,568, or does one more wave wait below 68,500? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
