$ETH Longs got wiped out again: $774 million liquidated, 88.9% of them long positions!
CoinGlass data: $774 million in liquidations over 24 hours, including $689 million in long positions.
ETH had the most liquidations among individual coins, at $169 million, 86.3% of which were longs.
BTC followed closely at $160 million, with 90.2% in longs.
Binance accounted for 51.9% of total liquidations. The largest single liquidation was a $9.65 million BTCUSDT long.
The trigger wasn’t just crypto itself: South Korea’s KOSPI fell nearly 5% on Tuesday. Tom Lee said liquidations at Korean brokerages may have spilled over into crypto.
On top of that, Treasury yields remain high, with tomorrow night’s CPI (forecast: 3.7%, previous: 3.4%) weighing on the market.
Looking at the ETH 1h chart:
Range high: 2579.88 → low: 2406.11; current price: 2496.49, down about 2.6% from the range high.
The Bollinger middle band at 2510 is the first hurdle. Until price gets above it, any move is just a rebound.
The lower Bollinger Band is at 2435, with the previous low of 2406 just below.
My invalidation condition: a 1h close below 2406 invalidates the rebound thesis; only a sustained move above the upper band at 2585 would signal the bulls are back.
Bottom line: Don’t use leverage to bet on direction ahead of CPI. Liquidations being cleared doesn’t mean we’ve hit bottom. Let’s see what happens after the data comes out.
Are you bullish or bearish? Will you stay flat and wait ahead of CPI?
#以太坊突破2500USDT #ETH #ContentMining
Just my personal opinion. Be mindful of the risks, DYOR
CoinGlass data: $774 million in liquidations over 24 hours, including $689 million in long positions.
ETH had the most liquidations among individual coins, at $169 million, 86.3% of which were longs.
BTC followed closely at $160 million, with 90.2% in longs.
Binance accounted for 51.9% of total liquidations. The largest single liquidation was a $9.65 million BTCUSDT long.
The trigger wasn’t just crypto itself: South Korea’s KOSPI fell nearly 5% on Tuesday. Tom Lee said liquidations at Korean brokerages may have spilled over into crypto.
On top of that, Treasury yields remain high, with tomorrow night’s CPI (forecast: 3.7%, previous: 3.4%) weighing on the market.
Looking at the ETH 1h chart:
Range high: 2579.88 → low: 2406.11; current price: 2496.49, down about 2.6% from the range high.
The Bollinger middle band at 2510 is the first hurdle. Until price gets above it, any move is just a rebound.
The lower Bollinger Band is at 2435, with the previous low of 2406 just below.
My invalidation condition: a 1h close below 2406 invalidates the rebound thesis; only a sustained move above the upper band at 2585 would signal the bulls are back.
Bottom line: Don’t use leverage to bet on direction ahead of CPI. Liquidations being cleared doesn’t mean we’ve hit bottom. Let’s see what happens after the data comes out.
Are you bullish or bearish? Will you stay flat and wait ahead of CPI?
#以太坊突破2500USDT #ETH #ContentMining
Just my personal opinion. Be mindful of the risks, DYOR