$1.16 billion liquidated in a single day! ETH liquidations hit $356 million, surpassing Bitcoin
On October 8, the market staged a textbook “long squeeze” in just one day (CryptoRank data from October 9):
📊 Total liquidations over 24 hours reached $1.16 billion, including $1 billion in long positions—nearly 90% of the liquidations were traders betting on further gains. More than 166,000 traders were affected.
📊 The hardest hit was $ETH : $356 million in liquidations over 24 hours, exceeding BTC’s roughly $300 million (CoinGlass data from October 9). ETH fell to an intraday low of $2,409, officially breaking below the $2,500 level.
📊 The largest single liquidation was an ETH/USD contract on Hyperliquid, wiping out nearly $20 million in one trade.
Why was ETH hit so hard? It wasn’t a collapse in fundamentals—it was excessive leverage: ETH futures trading volume is 15.4 times spot volume (compared with just 11.4 times for BTC), while open interest remains at $32.28 billion. The higher the leverage, the more brutal the cascade when prices fall below margin thresholds.
BTC didn’t fare much better: it touched an intraday low of $80,000, with the 50-day moving average ($80,526) looming overhead and the MACD forming a bearish crossover. Trump’s comment that “we won’t strike Iran before the midterm elections” barely managed to pull the price back above $81,000, but BTC still closed lower over 24 hours.
My takeaway: this wasn’t bad news being priced in—it was a leverage flush. Until leveraged long positions in futures come down, don’t rush to buy the dip. Neither $2,500 nor $80,000 has been firmly reclaimed.
👇 Click $ETH to check the charts. With this level of volatility, your entry point matters 10 times more than your opinion.
This is solely my personal opinion and does not constitute investment advice.
#比特币 #以太坊 #Liquidation
On October 8, the market staged a textbook “long squeeze” in just one day (CryptoRank data from October 9):
📊 Total liquidations over 24 hours reached $1.16 billion, including $1 billion in long positions—nearly 90% of the liquidations were traders betting on further gains. More than 166,000 traders were affected.
📊 The hardest hit was $ETH : $356 million in liquidations over 24 hours, exceeding BTC’s roughly $300 million (CoinGlass data from October 9). ETH fell to an intraday low of $2,409, officially breaking below the $2,500 level.
📊 The largest single liquidation was an ETH/USD contract on Hyperliquid, wiping out nearly $20 million in one trade.
Why was ETH hit so hard? It wasn’t a collapse in fundamentals—it was excessive leverage: ETH futures trading volume is 15.4 times spot volume (compared with just 11.4 times for BTC), while open interest remains at $32.28 billion. The higher the leverage, the more brutal the cascade when prices fall below margin thresholds.
BTC didn’t fare much better: it touched an intraday low of $80,000, with the 50-day moving average ($80,526) looming overhead and the MACD forming a bearish crossover. Trump’s comment that “we won’t strike Iran before the midterm elections” barely managed to pull the price back above $81,000, but BTC still closed lower over 24 hours.
My takeaway: this wasn’t bad news being priced in—it was a leverage flush. Until leveraged long positions in futures come down, don’t rush to buy the dip. Neither $2,500 nor $80,000 has been firmly reclaimed.
👇 Click $ETH to check the charts. With this level of volatility, your entry point matters 10 times more than your opinion.
This is solely my personal opinion and does not constitute investment advice.
#比特币 #以太坊 #Liquidation