Before the U.S. stock market even opened, the bears took a hit first.
At 8:30 PM, gold, silver, and chip-stock futures all got pushed up together. Then in the next 12 minutes, traditional-asset futures liquidated $883,000 of short positions, 197 trades; long positions were liquidated only 40,000. In the first 12 minutes, not a single short was liquidated.
The gold is the toughest. On Binance Futures, in 5 minutes it surged from 4198 to 4226, setting a new intraday high; volume was $115 million, over 7 times that of the first 5 minutes. Gold short positions were liquidated for 394,000; the largest single liquidation was 112,000 on OKX.
Going long triple on semiconductor stocks: SOXL rose 2.7% in 5 minutes; shorts were liquidated for 101,000. Sandisk SNDK shorts were liquidated for 126,000.
After the move, I didn’t really throw up much; the gold is still at 4218. At 9:30 the US stock market opens. If you want to chase a short, first see whether this line can hold.
Before the open, which side are you on after this move?
Check in real time: https://www.coinboss.com/zh/tradfi-liquidations/XAU