From October 10 to 15, the total amount of short orders liquidated in BTC futures across the entire network reached $89 million. Since the BTC price hit $73,800 and entered a volatile market, yesterday's short order liquidation scale jumped to third place.
Such a large-scale short order liquidation shows the strong momentum of the market on the one hand, and on the other hand, it also means that a large amount of capital fuel has been consumed in the short term.
Interestingly, in the past six months of volatility, the first two large short order liquidations liquidated shorts chasing shorts, while this time it affected long-term shorts.
For shorts who are still holding orders, this may be good news, which means that prices may continue to fluctuate in the short term, waiting for new liquidity to enter the market before moving in a certain direction.
For longs, after a large number of short orders are liquidated, this is theoretically a good time to stop profit in the short term, but I guess most people may choose to continue holding?