Market just got wrecked. $BTC dropped under $67k, $ETH below $1,900.
$230M in longs wiped out in 20 minutes.
Leverage kills fast when volatility spikes. This is what overleveraged positioning looks like when the bid disappears — cascading liquidations feeding into themselves.
Usual pattern: panic selloff → flush out weak hands → potential bounce if there's real buying interest underneath. But right now, the tape shows pure liquidation pressure.
Watch funding rates and open interest to see if this was just a leverage flush or if there's deeper selling coming.
$230M in longs wiped out in 20 minutes.
Leverage kills fast when volatility spikes. This is what overleveraged positioning looks like when the bid disappears — cascading liquidations feeding into themselves.
Usual pattern: panic selloff → flush out weak hands → potential bounce if there's real buying interest underneath. But right now, the tape shows pure liquidation pressure.
Watch funding rates and open interest to see if this was just a leverage flush or if there's deeper selling coming.