The biggest change today is that the liquidation direction has flipped. In the past 24 hours:
BTC liquidations were about $89.29M, with longs accounting for $74.38M;
ETH liquidations were about $184.92M, with longs accounting for $155.03M;
SOL liquidations were about $68.26M, with longs accounting for $61.86M;
XRP liquidations were about $99.08M, with longs accounting for $80.96M.
Yesterday, the liquidations targeted shorts. Today, it has shifted to liquidating the momentum-following longs. However, funding is still broadly positive, which suggests many longs haven’t exited yet. Prices have cooled down, but positions haven’t fully cooled off.
What’s really hurting are high-beta names like ADA, SUI, CRO, WIF, and ONDO—most are down over 10%.
A-Jian believes this pullback for now looks more like rotation/turnover after a squeeze, rather than a macro trend reversal. BTC’s decline is clearly smaller than that of altcoins, which indicates capital first withdrew from high-risk assets back to the broader market. As long as funding and OI remain elevated, there may be further liquidation of longs ahead.
My personal observation of $BTC :
- Holding $76K–$76.6K suggests the first wave of pullback still has support/absorption.
- Reclaiming $78.5K means longs have regained control.
- If it breaks below $76K, watch for profit-taking and leveraged longs cutting positions together.
As for $ETH , $2,381 is the first support/absorption level:
- Holding $2,380–$2,400 still counts as a strong pullback.
- Reclaiming $2,500–$2,515 means the repair is basically complete.
- If it falls below $2,380, pay attention to whether large players deleverage and whether supply continues to increase.
BTC liquidations were about $89.29M, with longs accounting for $74.38M;
ETH liquidations were about $184.92M, with longs accounting for $155.03M;
SOL liquidations were about $68.26M, with longs accounting for $61.86M;
XRP liquidations were about $99.08M, with longs accounting for $80.96M.
Yesterday, the liquidations targeted shorts. Today, it has shifted to liquidating the momentum-following longs. However, funding is still broadly positive, which suggests many longs haven’t exited yet. Prices have cooled down, but positions haven’t fully cooled off.
What’s really hurting are high-beta names like ADA, SUI, CRO, WIF, and ONDO—most are down over 10%.
A-Jian believes this pullback for now looks more like rotation/turnover after a squeeze, rather than a macro trend reversal. BTC’s decline is clearly smaller than that of altcoins, which indicates capital first withdrew from high-risk assets back to the broader market. As long as funding and OI remain elevated, there may be further liquidation of longs ahead.
My personal observation of $BTC :
- Holding $76K–$76.6K suggests the first wave of pullback still has support/absorption.
- Reclaiming $78.5K means longs have regained control.
- If it breaks below $76K, watch for profit-taking and leveraged longs cutting positions together.
As for $ETH , $2,381 is the first support/absorption level:
- Holding $2,380–$2,400 still counts as a strong pullback.
- Reclaiming $2,500–$2,515 means the repair is basically complete.
- If it falls below $2,380, pay attention to whether large players deleverage and whether supply continues to increase.