Conclusion first: in the past 24 hours, the entire market saw a total of $353 million in liquidations, across 81,000 trades—longs and shorts kept chopping each other all day. The most twisted direction was in the two major coins: Bitcoin was liquidated by $101 million, with 62% being longs; Ethereum was liquidated by $95 million, with 57% being shorts. Those chasing longs on Bitcoin and those shorting Ethereum got cut—each got their own blade.
Ethereum is only short by $6.13 million compared with Bitcoin—almost a tie. Over in the altcoins, shorts fared even worse: SOL was liquidated by $26.58 million, with 78% being shorts; ZEC was liquidated by $14.94 million, with 73% being shorts.
In the past 24 hours, the largest single transaction on the gate involved 37.5 more bitcoins; one trade blew up $3.13 million, the heaviest blow of the day.
But in the last hour, the wind direction changed: the whole network exploded 53.34 million, with 88% getting dumped onto the long side. Stop chasing shorts during the day, and now the ones chasing highs are starting to settle their debts.
$BTC $ETH
Longs and shorts slaughter each other all day—who do you think gets the knife tomorrow?
Check in real time: https://www.coinboss.com/liquidations