Fake afternoon collective pullback, with liquidations over $1.2B in 24 hours
This afternoon at 13:00, the crypto market saw a clear round of decline. $BTC pulled back from its previous high near $79,000, and altcoins such as $ETH , $SOL , $XRP, and $DOGE all dropped sharply as well—more importantly, many altcoins saw short-term losses noticeably larger than BTC.
According to CoinGlass’s latest data, in the past 24 hours total liquidations across the entire network were about $1.247 billion, including roughly $743 million in long positions. $ETH , $XRP, $BTC, $SOL , $DOGE, and others all experienced large-scale liquidations. After the rapid rally in the past few days, leveraged positions that had built up began to unwind in a concentrated manner. This move today looks more like a concentrated pullback following the rapid rise earlier. As BTC fell from a high level, losses on the altcoin side were further amplified. The mass liquidation of large numbers of long positions in a short time also indicates that leverage in the market has become relatively high after this rally. #BTC #ETH
This afternoon at 13:00, the crypto market saw a clear round of decline. $BTC pulled back from its previous high near $79,000, and altcoins such as $ETH , $SOL , $XRP, and $DOGE all dropped sharply as well—more importantly, many altcoins saw short-term losses noticeably larger than BTC.
According to CoinGlass’s latest data, in the past 24 hours total liquidations across the entire network were about $1.247 billion, including roughly $743 million in long positions. $ETH , $XRP, $BTC, $SOL , $DOGE, and others all experienced large-scale liquidations. After the rapid rally in the past few days, leveraged positions that had built up began to unwind in a concentrated manner. This move today looks more like a concentrated pullback following the rapid rise earlier. As BTC fell from a high level, losses on the altcoin side were further amplified. The mass liquidation of large numbers of long positions in a short time also indicates that leverage in the market has become relatively high after this rally. #BTC #ETH
