$BTC In this latest downturn, more than $1.1 billion was liquidated across the market, mostly long positions.
The problem wasn’t that the market suddenly turned bad. After prices rose in the previous few days, too many people saw a pullback as a chance to get in. They kept piling on leverage while moving their stop-losses closer and closer.
When prices accelerated slightly to the downside, stop-losses, liquidations, and traders chasing the move down all piled up, naturally triggering a cascade.
Don’t rush to blame the whales. When leverage is piled on this heavily, sooner or later the market will find a reason to clear everyone out.#比特币重复使用地址持有433万枚BTC
The problem wasn’t that the market suddenly turned bad. After prices rose in the previous few days, too many people saw a pullback as a chance to get in. They kept piling on leverage while moving their stop-losses closer and closer.
When prices accelerated slightly to the downside, stop-losses, liquidations, and traders chasing the move down all piled up, naturally triggering a cascade.
Don’t rush to blame the whales. When leverage is piled on this heavily, sooner or later the market will find a reason to clear everyone out.#比特币重复使用地址持有433万枚BTC