The cryptocurrency market weakened again on Wednesday: $BTC fell 1.7%, briefly dropping to around $84,100; $ETH suffered a bigger loss of 3.5%. After leveraged traders rebuilt their long positions, the sell-off triggered about $403.58 million in long liquidations within an hour.
The liquidations brought to mind last year’s “10-10 flash crash,” when a market move driven almost entirely by leveraged funds led to about $17 billion in long positions being forcibly closed. Analysts noted that leverage has indeed built back up, but the kind of systemic pressure that could trigger a cascading crash like last year’s has yet to emerge, so the same scenario may not necessarily repeat.
(Source: X)
#Bitcoin #加密货币 #Market Analysis
The liquidations brought to mind last year’s “10-10 flash crash,” when a market move driven almost entirely by leveraged funds led to about $17 billion in long positions being forcibly closed. Analysts noted that leverage has indeed built back up, but the kind of systemic pressure that could trigger a cascading crash like last year’s has yet to emerge, so the same scenario may not necessarily repeat.
(Source: X)
#Bitcoin #加密货币 #Market Analysis