This morning, BTC was pushed down to around 81,700.
Over the past 24 hours, $BTC saw about $77.7 million in liquidations, 83% of them long positions.
Below the current price, there’s another cluster of long liquidations around 81,200; above it, plenty of short positions are stacked between 82,600 and 83,300. Both sides are close to the current price. A move of just a few hundred dollars could hit orders that force exchanges to liquidate highly leveraged positions.
In this kind of market, a single wick can amplify volatility.
For now, I’m watching to see which side is more crowded with leverage. I can wait a little longer before drawing conclusions about direction.
Over the past 24 hours, $BTC saw about $77.7 million in liquidations, 83% of them long positions.
Below the current price, there’s another cluster of long liquidations around 81,200; above it, plenty of short positions are stacked between 82,600 and 83,300. Both sides are close to the current price. A move of just a few hundred dollars could hit orders that force exchanges to liquidate highly leveraged positions.
In this kind of market, a single wick can amplify volatility.
For now, I’m watching to see which side is more crowded with leverage. I can wait a little longer before drawing conclusions about direction.