What happened in the market yesterday? 🧐📉
If you noticed that most coins were dumped down at the same moment, then it wasn’t specific to each coin on its own.
What happened was strongly tied to Bitcoin’s move: there was a sudden and fast drop in BTC. And with leveraged long positions on the market, forced liquidations began—this increased selling pressure and quickly spread the impact to Ethereum and the rest of the coins.
Reports indicate that the market lost about $108 billion in market value within minutes, with liquidations exceeding $1.7 billion over 24 hours.
And here’s an important point to understand:
Why were some coins’ dumps so strong, while others weren’t?
Because liquidity and order book depth differ from one coin to another. A coin with weak liquidity can be affected much more by the same sell-off move that has a smaller impact on a coin with deep liquidity.
So sometimes Bitcoin starts the move, futures and liquidations amplify it, and then the shock transfers to the altcoins. 🐋
The real question now isn’t: why did all the coins go down?
But:
Where was the liquidity before the dump? And which coins absorbed the selling, and which ones collapsed? 👀
If you noticed that most coins were dumped down at the same moment, then it wasn’t specific to each coin on its own.
What happened was strongly tied to Bitcoin’s move: there was a sudden and fast drop in BTC. And with leveraged long positions on the market, forced liquidations began—this increased selling pressure and quickly spread the impact to Ethereum and the rest of the coins.
Reports indicate that the market lost about $108 billion in market value within minutes, with liquidations exceeding $1.7 billion over 24 hours.
And here’s an important point to understand:
Why were some coins’ dumps so strong, while others weren’t?
Because liquidity and order book depth differ from one coin to another. A coin with weak liquidity can be affected much more by the same sell-off move that has a smaller impact on a coin with deep liquidity.
So sometimes Bitcoin starts the move, futures and liquidations amplify it, and then the shock transfers to the altcoins. 🐋
The real question now isn’t: why did all the coins go down?
But:
Where was the liquidity before the dump? And which coins absorbed the selling, and which ones collapsed? 👀