GPS leads the decline across the whole market today: $0.0122, down 26.5% over the past 24 hours, with trading volume of $834 million.
But what’s truly striking isn’t the drop—it’s the speed at which derivatives positions are being withdrawn—
Total open interest across the web has evaporated by 43.5% in 24 hours, leaving just $40.2 million. All 10 exchanges are reducing positions without exception:
• Binance: $12.3 million, -54.9%; still at -59% in the last 4 hours
• Bybit: -42.6%, OKX: -34.1%, WhiteBit: -50.8%
• Aster: down 92% straight away—basically cleared to zero
• Even the most resilient MEXC has pulled back by 23%
Futures funding rates, however, are calm: across 13 venues the equivalent annualized rate averages around 8%, while Binance is only a bit above 1%. There’s no crowd of shorts forcing a squeeze for fees. This isn’t a short ambush—it’s longs cutting themselves out of the market, while leverage is being actively withdrawn.
Liquidation data also confirms it: $3.07 million liquidated in 24 hours, with longs and shorts nearly split 50/50. But 71% of liquidations in the last 4 hours were longs—while the price is still drifting lower, the value-buyers are the first to be sent out.
Trading volume is 21 times the open-interest value. This round of turnover is basically completed by spot selling pressure.
A drop isn’t scary. What’s scary is leverage capital voting with its feet.
GPS panoramic data: coinboss.com/currencies/GPS
Global liquidation dashboard: coinboss.com/liquidations
#GPS #爆仓 #加密货币
But what’s truly striking isn’t the drop—it’s the speed at which derivatives positions are being withdrawn—
Total open interest across the web has evaporated by 43.5% in 24 hours, leaving just $40.2 million. All 10 exchanges are reducing positions without exception:
• Binance: $12.3 million, -54.9%; still at -59% in the last 4 hours
• Bybit: -42.6%, OKX: -34.1%, WhiteBit: -50.8%
• Aster: down 92% straight away—basically cleared to zero
• Even the most resilient MEXC has pulled back by 23%
Futures funding rates, however, are calm: across 13 venues the equivalent annualized rate averages around 8%, while Binance is only a bit above 1%. There’s no crowd of shorts forcing a squeeze for fees. This isn’t a short ambush—it’s longs cutting themselves out of the market, while leverage is being actively withdrawn.
Liquidation data also confirms it: $3.07 million liquidated in 24 hours, with longs and shorts nearly split 50/50. But 71% of liquidations in the last 4 hours were longs—while the price is still drifting lower, the value-buyers are the first to be sent out.
Trading volume is 21 times the open-interest value. This round of turnover is basically completed by spot selling pressure.
A drop isn’t scary. What’s scary is leverage capital voting with its feet.
GPS panoramic data: coinboss.com/currencies/GPS
Global liquidation dashboard: coinboss.com/liquidations
#GPS #爆仓 #加密货币