The one that fell the most isn’t necessarily the one with the worst liquidations.
Top three on today’s biggest losers list—the liquidation structure doesn’t match at all.
$APR Down 71%, with $6.38 million liquidated in 24h. Longs account for 77.5%, 6,890 trades; the position was punched through on one side.
$BEAT Down 46%, with $1.95 million liquidated. Longs account for 91%. Calculated across 3,069 trades, the average liquidation per trade is $635—everything is small-position leverage, layered up on the way down and swept out.
$CYS Down 44%, with $2.52 million liquidated. Longs and shorts are almost split 50/50, but shorts are slightly higher ($1.288M vs $1.235M). Its trading volume of $1.015B is the largest among the three, yet its liquidations are only $54.23M, or 4.6%, of the total across the network.
This combination is worth pondering: during the falling process, some people repeatedly chased short positions at low levels and got squeezed a few times by rebounds. The real selling pressure comes from the spot market, not leverage. Also, with the same 50% cut, BEAT is more like leveraged longs being liquidated and pushed downward, while CYS is more like an orderly distribution by someone.
Across the whole network, 24h liquidations totaled 54.23 million, with longs at 31.53 million accounting for 58%. The direction contains more information than the drawdown magnitude.
Do you think this kind of deep drop and low liquidation rate for CYS means it has already been hammered out, or is it just starting?
Check in real time: https://www.coinboss.com/gainers-losers