Binance futures liquidations totaled $5.79 million over the past 4 hours: $2.99 million in long positions (51.6%) and $2.80 million in short positions.
After liquidations, I usually look at three things:
① Which side was liquidated more: both sides were hit, so it was a back-and-forth sweep;
② The largest liquidation was at $ETH ($723,000), and the price swings that follow are often the most volatile;
③ Did open interest also fall? If it did, positions were genuinely flushed out. If it barely changed, new leveraged positions are entering.
Changes in open interest can show whether a market move is backed by real money or built on leverage.
#ETH