📰 Why did Binance suddenly “evaporate” $260 million in liquidation? ETH bulls finally can’t hold on?
Last night, Binance was hit by an unprecedented liquidation storm. A $260 million ETH position was wiped out, while the total amount liquidated across the entire crypto market in 24 hours reached $608 million. This isn’t a coincidence. After a series of sharp declines, ETH bulls finally broke—and the liquidation wave is now疯狂收割 leverage players.
Why is this news important?
A $608 million liquidation amount is roughly equivalent to a day’s worth of DeFi trading volume. Behind it is the direct result of ETH’s price dropping 4.99%. More critically, this liquidation was mainly concentrated on bullish ETH positions, meaning market confidence is retreating from the most dangerous areas. Why? Because expectations of Fed rate hikes are heating up, and institutional investors are reassessing their risk exposure. As the “king of volatility,” ETH naturally became the first victim.
Market impact:
- In the short term, BTC may be dragged down by risk-off capital, but as long as $117K holds, the bigger trend remains unchanged. ETH, however, needs to form a bottom around $2.4K—otherwise, there’s unlimited room for further downside.
- This also suggests the regulatory environment may be more fragile than we think, since every large-scale liquidation makes regulators more vigilant. Money flows are changing too. Traditional funds’ Q3 reports show they’re clearing crypto assets, but which specific assets remain to be tracked continuously.
- Similar historical events? The liquidation wave before Luna’s collapse in May 2022 saw ETH’s performance almost identical to now.
💡 ETH bulls are being brutally harvested. This means if ETH can’t form a reversal at $2.4K, this price zone will become a massive pressure area. Holding $2.5K could trigger a small rebound, but if $2.3K is broken, this view is invalid.
If regulators further tighten leverage policies, this view is invalid.
This article has no project sponsorship. The author does not hold any of the assets mentioned
$BTC $ETH #BTC #ETH
⚠️ Not investment advice; predictions are for reference only
#ETHUp70%InQ3ButLiquidityFalls
Last night, Binance was hit by an unprecedented liquidation storm. A $260 million ETH position was wiped out, while the total amount liquidated across the entire crypto market in 24 hours reached $608 million. This isn’t a coincidence. After a series of sharp declines, ETH bulls finally broke—and the liquidation wave is now疯狂收割 leverage players.
Why is this news important?
A $608 million liquidation amount is roughly equivalent to a day’s worth of DeFi trading volume. Behind it is the direct result of ETH’s price dropping 4.99%. More critically, this liquidation was mainly concentrated on bullish ETH positions, meaning market confidence is retreating from the most dangerous areas. Why? Because expectations of Fed rate hikes are heating up, and institutional investors are reassessing their risk exposure. As the “king of volatility,” ETH naturally became the first victim.
Market impact:
- In the short term, BTC may be dragged down by risk-off capital, but as long as $117K holds, the bigger trend remains unchanged. ETH, however, needs to form a bottom around $2.4K—otherwise, there’s unlimited room for further downside.
- This also suggests the regulatory environment may be more fragile than we think, since every large-scale liquidation makes regulators more vigilant. Money flows are changing too. Traditional funds’ Q3 reports show they’re clearing crypto assets, but which specific assets remain to be tracked continuously.
- Similar historical events? The liquidation wave before Luna’s collapse in May 2022 saw ETH’s performance almost identical to now.
💡 ETH bulls are being brutally harvested. This means if ETH can’t form a reversal at $2.4K, this price zone will become a massive pressure area. Holding $2.5K could trigger a small rebound, but if $2.3K is broken, this view is invalid.
If regulators further tighten leverage policies, this view is invalid.
This article has no project sponsorship. The author does not hold any of the assets mentioned
$BTC $ETH #BTC #ETH
⚠️ Not investment advice; predictions are for reference only
#ETHUp70%InQ3ButLiquidityFalls