$ETH just got absolutely rinsed.
$356M in liquidations in 24hrs — 6x what $BTC saw, despite ETH being 1/5th the market cap.
That's not normal. That's overleveraged degen behavior getting punished.
When everyone's long the same thing, the rug comes hardest. ETH was the crowded trade, and it just got slaughtered.
If you're still holding leveraged longs into this chop, you're the exit liquidity.
$356M in liquidations in 24hrs — 6x what $BTC saw, despite ETH being 1/5th the market cap.
That's not normal. That's overleveraged degen behavior getting punished.
When everyone's long the same thing, the rug comes hardest. ETH was the crowded trade, and it just got slaughtered.
If you're still holding leveraged longs into this chop, you're the exit liquidity.