This wasn’t a slow decline for HYPE—it was a mass exit by longs. Over the past 24 hours, HYPE liquidations totaled about $21.02 million, of which roughly $20.69 million were longs, accounting for 98.5%. Shorts made up less than 2%.
The amount isn’t the largest across the entire market, but the imbalance is extreme: for every $100 in positions liquidated, about $98 came from the long side. If leveraged positions chasing the rally haven’t been reduced yet, even a rebound could trigger a second wave of liquidations.
HYPE saw 2,945 liquidations, which suggests this wasn’t a figure driven by just one or two large positions. Rather, a series of smaller positions were forced out. Do you think HYPE will recover next, or is another round of longs about to be liquidated?
$HYPE $BTC
View in real time: https://www.coinboss.com/zh/liquidations