After ETH broke below $2,500, what bears are most eager to see isn’t the breakdown itself, but the face-up card at $2,431.59.
Whale Machi holds a 9,950 ETH long position worth nearly $25 million, with its liquidation price set at $2,431.59. Since $2,500 gave way, this heavily leveraged position has less than $70 of breathing room.
Even worse, there’s no rescue from the sidelines: Ethereum spot ETFs have seen net outflows for 8 consecutive trading days, with another $72.54 million flowing out in a single day.
Capital is fleeing from the sidelines, while long positions sit in plain sight on the market, waiting to be slaughtered. Until liquidation risks are flushed out, any rebound is just a bull trap.
#比特币反弹至8.3万美元 #ETH $ETH
#OGN $OGN
#比特币反弹至8.3万美元
👇
Whale Machi holds a 9,950 ETH long position worth nearly $25 million, with its liquidation price set at $2,431.59. Since $2,500 gave way, this heavily leveraged position has less than $70 of breathing room.
Even worse, there’s no rescue from the sidelines: Ethereum spot ETFs have seen net outflows for 8 consecutive trading days, with another $72.54 million flowing out in a single day.
Capital is fleeing from the sidelines, while long positions sit in plain sight on the market, waiting to be slaughtered. Until liquidation risks are flushed out, any rebound is just a bull trap.
#比特币反弹至8.3万美元 #ETH $ETH
#OGN $OGN
#比特币反弹至8.3万美元
👇