Binance futures liquidations over the past hour totaled $3.73 million: $3.12 million in longs (83.5%) and $616,000 in shorts.
After liquidations, I look at three things:
① Who got flushed out: longs were dominant, and leverage flushed out a batch of them;
② The largest concentration was at $ETH ($634,000); its subsequent price swings tend to be the biggest;
③ Whether open interest fell afterward: a drop means leverage was genuinely flushed out, while no drop means new leveraged positions are entering.
When liquidations cluster on one side during a one-way move, positions on that side can be considered partially flushed out.
#ETH
After liquidations, I look at three things:
① Who got flushed out: longs were dominant, and leverage flushed out a batch of them;
② The largest concentration was at $ETH ($634,000); its subsequent price swings tend to be the biggest;
③ Whether open interest fell afterward: a drop means leverage was genuinely flushed out, while no drop means new leveraged positions are entering.
When liquidations cluster on one side during a one-way move, positions on that side can be considered partially flushed out.
#ETH