Binance futures liquidations totaled $7.07 million over the past hour: $6.85 million in long positions (96.8%) and $224,000 in short positions.
After liquidations, I’ll look at three things:
① Which side was liquidated more: longs accounted for most of it, meaning leverage flushed out a batch of positions;
② The largest concentration was at $ETH ($1.82 million), and the volatility that follows it is often the greatest;
③ Whether open interest also declined: a drop means positions were genuinely cleared out; little change means more leverage is piling up again.
No matter how large the liquidation amount is, it’s in the past. What matters is how leverage builds back up from here.
#ETH
After liquidations, I’ll look at three things:
① Which side was liquidated more: longs accounted for most of it, meaning leverage flushed out a batch of positions;
② The largest concentration was at $ETH ($1.82 million), and the volatility that follows it is often the greatest;
③ Whether open interest also declined: a drop means positions were genuinely cleared out; little change means more leverage is piling up again.
No matter how large the liquidation amount is, it’s in the past. What matters is how leverage builds back up from here.
#ETH