Bottom line first: ETH surged and then pulled back today, and the side that got buried also reversed with it.

Current price is 2478. The 24-hour high is 2524 and the low is 2455. On both Binance and OKX, gains are stuck around 1%. The uptrend isn’t very strong, but a fluctuation of over 2.5% is not small.

In the past 24 hours, the whole network saw $54.71 million in liquidations, 62% of them short positions, and those who chased the drop didn’t hold up. But over the last 4 hours, the wind has shifted: 98% turned into long positions; in the last hour, it was even more extreme, with 99% being longs, and the pullback from the intraday high crushed all the late buyers.

The largest long position, worth $1.84 million, was liquidated at 2452, and Binance, Gate, and OKX together accounted for 86% of the liquidations in the past 4 hours.

The position holding is 25.17 billion USD, up 1.2% in one day. Binance accounts for 23%. It is still adding 2.5% over the past 24 hours, but in the last 4 hours it has instead shrunk 1%, and leverage is starting to retreat.

$ETH $BTC

#爆仓数据 #contract market

It surged and then pulled back, crushing the longs. Do you think this drop is over?

View in real time: https://www.coinboss.com/currencies/ETH