Conclusion first: the positions liquidated in this one hour account for half of the entire day’s liquidations, and almost all of it was sold into longs.
In the past hour alone, liquidations across the whole network are nearly $300 million; over 24 hours, the total is $588 million. In one hour, it already ate up a full half. The share of longs has kept rising: in the last 24 hours, 74% were longs; over the most recent 4 hours it climbed to 96%; and in the last hour it jumped straight to 98%. The later you chase longs, the less you can withstand it.
The one falling hardest is Ethereum: in the past hour it surged with liquidations totaling $85.11 million, more than Bitcoin’s $80.86 million. The current price is around 2,652, down 2.9% over the last 24 hours, hovering right next to today’s low of 2,645. Bitcoin is currently around 84,075, down 2.1%. In the last 24 hours its low just dipped below 83,900, setting a new intraday low.
Binance alone ate up $116 million in the past hour, accounting for nearly 40% of the entire online market. OKX and Hyperliquid followed closely, each taking in around $50 million.
$BTC $ETH
Is this batch of longs being buried out from the bottom, or are they really going to flip to shorts?
Check in real time: https://www.coinboss.com/liquidations