$195 million in liquidations across the market over 24 hours, including $143 million in long positions, or 73.31%.
Breaking it down: $ETH led with $58.14 million liquidated, 64% of them longs; $BTC saw $54.89 million liquidated, 78% longs; and $ZEC had $15.07 million liquidated, with shorts accounting for 59%—ZEC was the only coin where more shorts than longs were liquidated. The earlier short squeeze was so intense that shorts got trampled in the other direction.
What’s interesting is that everyone is waiting for the October 14 CPI. If the data cools, short covering could give deeply underwater longs a chance to escape; if it comes in hotter than expected, they’ll just have to take the loss.
Holding a losing position isn’t heroism. It’s about keeping some chips on the table until the data comes out—and admitting you were wrong if it disproves your thesis. Now that the longs have been liquidated, will shorts be next?
#BTC #ETH #CPI
Breaking it down: $ETH led with $58.14 million liquidated, 64% of them longs; $BTC saw $54.89 million liquidated, 78% longs; and $ZEC had $15.07 million liquidated, with shorts accounting for 59%—ZEC was the only coin where more shorts than longs were liquidated. The earlier short squeeze was so intense that shorts got trampled in the other direction.
What’s interesting is that everyone is waiting for the October 14 CPI. If the data cools, short covering could give deeply underwater longs a chance to escape; if it comes in hotter than expected, they’ll just have to take the loss.
Holding a losing position isn’t heroism. It’s about keeping some chips on the table until the data comes out—and admitting you were wrong if it disproves your thesis. Now that the longs have been liquidated, will shorts be next?
#BTC #ETH #CPI