【Liquidation pressure was heavier for $ETH than for $BTC , but don’t misread “six times”】
Over the past 24 hours, around $1.19 billion in crypto positions were liquidated, with more than $1 billion of that coming from long positions.
The most notable figures:
• ETH liquidations: around $356 million
• BTC liquidations: around $298 million
So “ETH liquidations were six times BTC’s” does not mean the total amount was six times larger. What it really means is that after adjusting liquidation amounts for each asset’s market cap, ETH experienced roughly six times the relative impact of BTC.
This suggests that leverage in the ETH market was more crowded and the shakeout more severe, but it should not be taken to mean that “ETH has finished falling.”
Around 13:30, the Binance market snapshot was approximately:
• $ETH: $2,489, down 2.85% over 24 hours
• $BTC: $82,314, down 0.42% over 24 hours
Although ETH has rebounded from its 24-hour low near $2,406, its decline is still significantly steeper than BTC’s, and its relative weakness has not fully eased.
I’m watching three conditions next:
① Can ETH hold $2,480–$2,500?
This is the zone the current rebound is contesting. Holding above it would suggest that buyers are stepping in after the liquidations. If it closes below this level on an hourly candle and then fails to reclaim it, watch for another test of the low.
② Can ETH hold around $2,406?
This is the latest 24-hour low. If price approaches it again and trading volume rises without breaking below it, that could indicate more reliable support. A clean break below it would suggest that the liquidations have not fully absorbed the selling pressure.
③ Can ETH start outperforming BTC again?
Simply rebounding along with the broader market isn’t enough. If ETH continues to weaken while BTC moves sideways, it would mean risk appetite for ETH has yet to recover.
Mass liquidations can clear out excessive leverage, but they don’t automatically create buying demand.
The real question isn’t “Have enough positions been liquidated?” It’s whether anyone is willing to keep buying after the liquidations are over.
Do you think this shakeout cleared out the leverage, or is there still a second wave coming after the rebound? 👀
#Ethereum #bitcoin #槓桿
$BTC
$ETH
Over the past 24 hours, around $1.19 billion in crypto positions were liquidated, with more than $1 billion of that coming from long positions.
The most notable figures:
• ETH liquidations: around $356 million
• BTC liquidations: around $298 million
So “ETH liquidations were six times BTC’s” does not mean the total amount was six times larger. What it really means is that after adjusting liquidation amounts for each asset’s market cap, ETH experienced roughly six times the relative impact of BTC.
This suggests that leverage in the ETH market was more crowded and the shakeout more severe, but it should not be taken to mean that “ETH has finished falling.”
Around 13:30, the Binance market snapshot was approximately:
• $ETH: $2,489, down 2.85% over 24 hours
• $BTC: $82,314, down 0.42% over 24 hours
Although ETH has rebounded from its 24-hour low near $2,406, its decline is still significantly steeper than BTC’s, and its relative weakness has not fully eased.
I’m watching three conditions next:
① Can ETH hold $2,480–$2,500?
This is the zone the current rebound is contesting. Holding above it would suggest that buyers are stepping in after the liquidations. If it closes below this level on an hourly candle and then fails to reclaim it, watch for another test of the low.
② Can ETH hold around $2,406?
This is the latest 24-hour low. If price approaches it again and trading volume rises without breaking below it, that could indicate more reliable support. A clean break below it would suggest that the liquidations have not fully absorbed the selling pressure.
③ Can ETH start outperforming BTC again?
Simply rebounding along with the broader market isn’t enough. If ETH continues to weaken while BTC moves sideways, it would mean risk appetite for ETH has yet to recover.
Mass liquidations can clear out excessive leverage, but they don’t automatically create buying demand.
The real question isn’t “Have enough positions been liquidated?” It’s whether anyone is willing to keep buying after the liquidations are over.
Do you think this shakeout cleared out the leverage, or is there still a second wave coming after the rebound? 👀
#Ethereum #bitcoin #槓桿
$BTC
$ETH