In the four-hour U.S. stock/commodities market, 6.39 million was liquidated, with shorts accounting for 62%; the crude oil short positions were hit the hardest.
The largest single order was a Binance crude oil short. It was force-liquidated around 91.6, for an amount of 1.023 million USD. Brent crude also had a short position of 715,000 USD liquidated. Together, these two oil products contributed the largest two clearances in this round.
Stock market liquidation: 2.99 million, commodity market liquidation: 3.38 million—yet the direction is still the same, bearish. It’s not that a single stock suddenly went out of control; rather, when oil prices rebounded, the positions that had been placed to bet on a decline were squeezed out together.
Next, watch two signals: whether the crude oil rebound can hold steady, and whether after the shorts are cleared, positions get built back up again. If the rebound stalls near the previous highs, chasing shorts or chasing longs is likely to get hit again in the next round.
Do you think this wave of crude oil short covering has ended?
View in real time: https://www.coinboss.com/tradfi-liquidations