Bitcoin fell below 80,000 dollars, then bounced back to 82,000 in just 30 minutes
In 24 hours, 930 million dollars’ worth of long and short positions were liquidated
But what if traders themselves are the fuel driving these swings?
A sharp drop puts pressure on long positions, then a strong rebound catches sellers off guard. In both cases, leverage makes losses mount quickly.
In a leveraged market, one move can liquidate buyers, and the rebound that follows can put pressure on sellers.
What we’re seeing is nothing but violent volatility in a market that punishes anyone who rushes to pick a direction $BTC
#BinanceTurns8 #WarshPushesToScaleBackForwardGuidanceAndDotPlot
In 24 hours, 930 million dollars’ worth of long and short positions were liquidated
But what if traders themselves are the fuel driving these swings?
A sharp drop puts pressure on long positions, then a strong rebound catches sellers off guard. In both cases, leverage makes losses mount quickly.
In a leveraged market, one move can liquidate buyers, and the rebound that follows can put pressure on sellers.
What we’re seeing is nothing but violent volatility in a market that punishes anyone who rushes to pick a direction $BTC
#BinanceTurns8 #WarshPushesToScaleBackForwardGuidanceAndDotPlot