$BTC
BTC futures open interest on Binance shrank 17% in less than a month.
It fell from $10.6 billion to $8.8 billion.
Analyst Darkfost says leverage is being pulled back—traders either closed their positions themselves or got liquidated.
The liquidation figures are even more striking.
$1.4 billion in August, $1.1 billion in September, $1.3 billion in October, and November isn’t even halfway over, yet it’s already at $520 million.
Combined, these past three months have seen the most Binance liquidations since 2021.
Put simply, this downturn has pretty much flushed out leverage.
Long liquidations are clustered around 72,871, while short liquidations are clustered around 74,357.
There’s a buildup on both sides, so whichever way the price moves first, that side will feel the pain first.
One caveat, though: different platforms use different counting methods, so take the claim that this is the “highest since 2021” with a grain of salt—it’s not set in stone.
Also, flushing out leverage only stops the bleeding; it doesn’t mean a rebound is coming.
Spot buyers haven’t returned yet, and ETFs are still seeing outflows.
When spot buyers come back matters far more than the liquidation numbers.
That order from this morning is still sitting there, untriggered. I’m not changing it today.
Are you sitting on the sidelines with no positions, or have you already started buying in gradually?
Personal analysis, not investment advice.
#BinanceLiquidations
BTC futures open interest on Binance shrank 17% in less than a month.
It fell from $10.6 billion to $8.8 billion.
Analyst Darkfost says leverage is being pulled back—traders either closed their positions themselves or got liquidated.
The liquidation figures are even more striking.
$1.4 billion in August, $1.1 billion in September, $1.3 billion in October, and November isn’t even halfway over, yet it’s already at $520 million.
Combined, these past three months have seen the most Binance liquidations since 2021.
Put simply, this downturn has pretty much flushed out leverage.
Long liquidations are clustered around 72,871, while short liquidations are clustered around 74,357.
There’s a buildup on both sides, so whichever way the price moves first, that side will feel the pain first.
One caveat, though: different platforms use different counting methods, so take the claim that this is the “highest since 2021” with a grain of salt—it’s not set in stone.
Also, flushing out leverage only stops the bleeding; it doesn’t mean a rebound is coming.
Spot buyers haven’t returned yet, and ETFs are still seeing outflows.
When spot buyers come back matters far more than the liquidation numbers.
That order from this morning is still sitting there, untriggered. I’m not changing it today.
Are you sitting on the sidelines with no positions, or have you already started buying in gradually?
Personal analysis, not investment advice.
#BinanceLiquidations