🐋 Over the past 4 hours, Binance futures liquidations totaled about $256 million, with longs accounting for 97.3% ($249 million in longs / $6.87 million in shorts). The top position was $ETH .
More longs were liquidated, which usually corresponds to a period of declining prices.
The amounts reported are based on the notional value of positions, not actual losses: with isolated margin, if a 10x leveraged position is liquidated, the main loss is roughly 10% of its notional value in margin.
The point of understanding an indicator is to avoid being spooked by the numbers, not to use it to predict tops and bottoms.
#ETH
More longs were liquidated, which usually corresponds to a period of declining prices.
The amounts reported are based on the notional value of positions, not actual losses: with isolated margin, if a 10x leveraged position is liquidated, the main loss is roughly 10% of its notional value in margin.
The point of understanding an indicator is to avoid being spooked by the numbers, not to use it to predict tops and bottoms.
#ETH