This time, futures fees were learned by the shorts
$BTC surged past 86,000 in that hour
The entire market was liquidated for roughly $121 million
Shorts were about $119 million liquidated
Longs were about $2.55 million
Over the past 24 hours, Bitcoin shorts liquidated are still on the order of around $140 million
The intraday high touched 87,200
Spot has now returned to around 84,600
Yesterday, the longs were the ones washed out first
Today the ratio has flipped back again
A short squeeze can push prices up
But it doesn’t mean there’s no liquidity wall above
Don’t chase the liquidation direction and add leverage
Wait for the 84,000–87,200 range to shake and turn dull before talking about direction
#Futures #BTC
$BTC surged past 86,000 in that hour
The entire market was liquidated for roughly $121 million
Shorts were about $119 million liquidated
Longs were about $2.55 million
Over the past 24 hours, Bitcoin shorts liquidated are still on the order of around $140 million
The intraday high touched 87,200
Spot has now returned to around 84,600
Yesterday, the longs were the ones washed out first
Today the ratio has flipped back again
A short squeeze can push prices up
But it doesn’t mean there’s no liquidity wall above
Don’t chase the liquidation direction and add leverage
Wait for the 84,000–87,200 range to shake and turn dull before talking about direction
#Futures #BTC
