The past 24 hours just witnessed $359.41M in liquidations across 82,383 traders, with $BTC ($104.37M) and $ETH ($88.36M) absorbing more than 53% of the entire market's bloodbath. The single largest wipeout was a massive $23.17M $BTC position on Binance.
Over 73% of the 24h damage ($262.82M) came from long liquidations. But notice the divergence in the last 4 hours: short liquidations ($9.34M) are now running at nearly triple the rate of longs ($3.84M).
When a flush wipes out nearly $200M in BTC/ETH longs and the bounce immediately starts squeezing late shorts, aggressive breakdown chasing is officially off the table.
Over 73% of the 24h damage ($262.82M) came from long liquidations. But notice the divergence in the last 4 hours: short liquidations ($9.34M) are now running at nearly triple the rate of longs ($3.84M).
When a flush wipes out nearly $200M in BTC/ETH longs and the bounce immediately starts squeezing late shorts, aggressive breakdown chasing is officially off the table.
