Yesterday’s move was a proper shakeout.
$770 million was liquidated in 24 hours. 89% of it was longs, and more than 170,000 traders were liquidated. $ETH saw the most liquidations at $169 million, while $BTC saw $160 million. The largest single liquidation was a $9.65 million long at 81772.
I checked around noon: $BTC had climbed back above $83,000, and $ETH was holding at 2,500. With leverage flushed out, the market actually calmed down. Until tonight’s data comes out, probably nobody wants to make the first move.
#BTC #ETH
$770 million was liquidated in 24 hours. 89% of it was longs, and more than 170,000 traders were liquidated. $ETH saw the most liquidations at $169 million, while $BTC saw $160 million. The largest single liquidation was a $9.65 million long at 81772.
I checked around noon: $BTC had climbed back above $83,000, and $ETH was holding at 2,500. With leverage flushed out, the market actually calmed down. Until tonight’s data comes out, probably nobody wants to make the first move.
#BTC #ETH