1.9 billion dollars liquidated in 24 hours, and 93 percent of it was longs. 💥
TokenPost and The Straits Times report CoinGlass data showing about 1.9 billion dollars in crypto positions liquidated in the past 24 hours, with longs taking roughly 1.8 billion of it. 📊 Bitcoin positions lost 684 million dollars and Ether lost 466 million, while the broader market lost almost 6 percent in a day and now stands near 2.3 trillion dollars. My reading is that traders kept buying every dip with leverage and the market keeps taking their stops, so this is not a bottom signal, it is proof leverage is still too high.
When do longs finally stop catching the falling knife, after 60,000 breaks or after 70,000 reclaims? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
TokenPost and The Straits Times report CoinGlass data showing about 1.9 billion dollars in crypto positions liquidated in the past 24 hours, with longs taking roughly 1.8 billion of it. 📊 Bitcoin positions lost 684 million dollars and Ether lost 466 million, while the broader market lost almost 6 percent in a day and now stands near 2.3 trillion dollars. My reading is that traders kept buying every dip with leverage and the market keeps taking their stops, so this is not a bottom signal, it is proof leverage is still too high.
When do longs finally stop catching the falling knife, after 60,000 breaks or after 70,000 reclaims? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidation
