#以太 #华尔街盈利预期23周来首现看空 #21Shares推出欧洲首只Zcash实物ETP 💥 The encrypted market once again harshly demonstrates the cold reality of the derivatives market.😭
According to Coinglass data, in the past 1 hour, total liquidation across the whole network for derivatives reached $225 million. In the sharp drop, longs were the absolute victims: $219 million in long positions were liquidated, accounting for over 97%; shorts were only $6.62 million.📉💀
This is not a two-way wash, but a typical case of “longs’ cascading foot-on-the-trap liquidation.”🧱🔥
1. ETH liquidations unusually surpass BTC; altcoin leverage gets wiped out ⚠️
In this round of liquidations, Ethereum is the worst-hit.😳
ETH liquidations in 1 hour totaled $59.87 million, exceeding BTC’s $57.49 million.📊
In normal market conditions, BTC usually carries the largest liquidation volume. When ETH overtakes, it suggests the leverage on prior positions in Ethereum and its ecosystem was too crowded. Once key support breaks, stop-loss orders and liquidation orders overlap, rapidly igniting the market.💣🧨
2. 97% of long positions liquidated: the chain-reaction liquidation logic 🔁
Why did more than $200 million of longs disappear within 1 hour? It’s due to the liquidation mechanism.🧮
When highly leveraged longs don’t have sufficient margin, exchanges force a market order sell to close the position. When market depth is insufficient, large liquidation sell orders smash into a thin buy-side book, pushing the price lower and triggering the next batch of liquidation lines for more longs.📉
“Price falls → liquidation sells → price falls again → more liquidations” is the vicious cycle—and it’s exactly why long liquidations account for 97%.🔁💥
3. Market implications 🧭
A sharp drop following prolonged consolidation at high levels or a rapid surge often comes with leverage unwinding. After overly high long leverage gets wiped out, the float completes a passive turnover and rebuilding.🔄
While deleveraging is brutal, it also makes room for liquidity in the following market moves.🌱📈$ETH $NIL $US
According to Coinglass data, in the past 1 hour, total liquidation across the whole network for derivatives reached $225 million. In the sharp drop, longs were the absolute victims: $219 million in long positions were liquidated, accounting for over 97%; shorts were only $6.62 million.📉💀
This is not a two-way wash, but a typical case of “longs’ cascading foot-on-the-trap liquidation.”🧱🔥
1. ETH liquidations unusually surpass BTC; altcoin leverage gets wiped out ⚠️
In this round of liquidations, Ethereum is the worst-hit.😳
ETH liquidations in 1 hour totaled $59.87 million, exceeding BTC’s $57.49 million.📊
In normal market conditions, BTC usually carries the largest liquidation volume. When ETH overtakes, it suggests the leverage on prior positions in Ethereum and its ecosystem was too crowded. Once key support breaks, stop-loss orders and liquidation orders overlap, rapidly igniting the market.💣🧨
2. 97% of long positions liquidated: the chain-reaction liquidation logic 🔁
Why did more than $200 million of longs disappear within 1 hour? It’s due to the liquidation mechanism.🧮
When highly leveraged longs don’t have sufficient margin, exchanges force a market order sell to close the position. When market depth is insufficient, large liquidation sell orders smash into a thin buy-side book, pushing the price lower and triggering the next batch of liquidation lines for more longs.📉
“Price falls → liquidation sells → price falls again → more liquidations” is the vicious cycle—and it’s exactly why long liquidations account for 97%.🔁💥
3. Market implications 🧭
A sharp drop following prolonged consolidation at high levels or a rapid surge often comes with leverage unwinding. After overly high long leverage gets wiped out, the float completes a passive turnover and rebuilding.🔄
While deleveraging is brutal, it also makes room for liquidity in the following market moves.🌱📈$ETH $NIL $US