24 hours liquidation wiped out $520 million, 87% of it was long positions.
First, the liquidation leaderboard blew up: over the past 24 hours, the whole market liquidated $520 million—up 90.32% from the day before—119,006 people got liquidated. Long positions on the buy side were blown out for $450 million, while short positions were only $69.81 million.
The hardest hit was $SOL : $17.36 million per coin. $SOL ’s current price is 114.25, down 3.24% over 24 hours, and it’s still holding above the 1-hour MA20 at 114.80. RSI14 is 40.63; neither support at 112.80 nor resistance at 117.17 has been broken. The drop isn’t that big, yet the liquidation amount is so high—retail long/short ratio is 1.8777, with 65.25% of accounts placing long trades. With heavy positions, once the price turned, they got chain-liquidated.
Open interest is down 2.76% over 24 hours; funding rate is undefined%/8h. Leverage is being pulled back, but the long positions haven’t been fully reduced yet.
I’m biased bearish: liquidation support gives way before the price does—it’s a positioning-structure problem, not that the move has already finished. Before longs are fully cleared, I’m inclined not to pick up the rebound.
First, the liquidation leaderboard blew up: over the past 24 hours, the whole market liquidated $520 million—up 90.32% from the day before—119,006 people got liquidated. Long positions on the buy side were blown out for $450 million, while short positions were only $69.81 million.
The hardest hit was $SOL : $17.36 million per coin. $SOL ’s current price is 114.25, down 3.24% over 24 hours, and it’s still holding above the 1-hour MA20 at 114.80. RSI14 is 40.63; neither support at 112.80 nor resistance at 117.17 has been broken. The drop isn’t that big, yet the liquidation amount is so high—retail long/short ratio is 1.8777, with 65.25% of accounts placing long trades. With heavy positions, once the price turned, they got chain-liquidated.
Open interest is down 2.76% over 24 hours; funding rate is undefined%/8h. Leverage is being pulled back, but the long positions haven’t been fully reduced yet.
I’m biased bearish: liquidation support gives way before the price does—it’s a positioning-structure problem, not that the move has already finished. Before longs are fully cleared, I’m inclined not to pick up the rebound.