Settle about $562 million · Longs in a stampede
On September 10 (UTC+8), after the U.S. August PPI was released, the crypto derivatives market saw concentrated liquidations. Multiple media outlets cited data indicating that the peak contract liquidation across the entire market was about $562 million: longs accounted for about $484 million, while shorts accounted for about $78 million. Longs made up an absolute majority, displaying a typical “longs in a stampede” structure, with leveraged positions forced to deleverage.
On the price front, <$BTC > broke below about $77,000 during the day, with a low around $76,651. High-leverage long positions were forced to close, amplifying the drop. There is also a figure reported on a rolling 24-hour basis of about $409 million. Numbers from different time windows should not be simply added together or used interchangeably. After that, the market moved into a deleveraging and wait-and-see phase ahead of the Fed’s interest-rate decision. <$ETH > and other high-Beta assets saw correlated volatility, and there were signs that funding rates and open interest were also contracting.
Near-term fluctuations continued to revolve around the macro calendar: before the Sept. 11 CPI and the FOMC decision on Sept. 15–16, risk appetite remained cautious, and high-leverage positions continued to face pressure. #Liquidation #Bitcoin #Derivatives does not constitute investment advice
On September 10 (UTC+8), after the U.S. August PPI was released, the crypto derivatives market saw concentrated liquidations. Multiple media outlets cited data indicating that the peak contract liquidation across the entire market was about $562 million: longs accounted for about $484 million, while shorts accounted for about $78 million. Longs made up an absolute majority, displaying a typical “longs in a stampede” structure, with leveraged positions forced to deleverage.
On the price front, <$BTC > broke below about $77,000 during the day, with a low around $76,651. High-leverage long positions were forced to close, amplifying the drop. There is also a figure reported on a rolling 24-hour basis of about $409 million. Numbers from different time windows should not be simply added together or used interchangeably. After that, the market moved into a deleveraging and wait-and-see phase ahead of the Fed’s interest-rate decision. <$ETH > and other high-Beta assets saw correlated volatility, and there were signs that funding rates and open interest were also contracting.
Near-term fluctuations continued to revolve around the macro calendar: before the Sept. 11 CPI and the FOMC decision on Sept. 15–16, risk appetite remained cautious, and high-leverage positions continued to face pressure. #Liquidation #Bitcoin #Derivatives does not constitute investment advice
