Crypto markets just saw a massive liquidation wave, with Ethereum longs reportedly taking around 6x the hit of Bitcoin longs. ๐
๐ป What Happened?
โข Total liquidations: $1.19B in 24 hours
โข ETH liquidations: ~$356M
โข BTC liquidations: ~$298M
โข More than $1B came from long positions
๐ Key Price Levels to Watch
๐ BTC: Dropped to ~$80.4K before bouncing toward $82K; $83K is the level to reclaim.
๐ต ETH: Trading around $2,490, down over 3%, with $2,400โ$2,500 as a key zone to watch.
โ ๏ธ Hawkish Fed minutes and headlines surrounding Iran added pressure to the market.
๐ Next Major Catalyst: US CPI โ October 14, around 5:30 PM PKT.
๐ฌ My Take: ETHโs leverage may be getting flushed out, but I want to see the $2,400โ$2,500 zone hold before trusting a recovery.
Is the liquidation wave over, or is another flush coming? ๐
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