Longs have really been getting shaken out back and forth these past few days: about $315 million in liquidations across the market over the past 24 hours, with longs accounting for 66%. Thursday’s wave was even harsher, with about $948 million liquidated in a single day, 90% of it from longs.
What does that tell us? Leverage keeps getting flushed out, but conviction hasn’t faded—$BTC funding rates are still at 0.005%–0.01% (longs are paying, and positioning isn’t too crowded), while more than 60% of accounts remain tilted bullish.
The market is just grinding along: $BTC is around $81,500 and $BNB around $720, both hovering near key levels. Don’t go adding recklessly to high-leverage positions over the next couple of days. Holding spot steadily is better than anything.
#DerivativesData
What does that tell us? Leverage keeps getting flushed out, but conviction hasn’t faded—$BTC funding rates are still at 0.005%–0.01% (longs are paying, and positioning isn’t too crowded), while more than 60% of accounts remain tilted bullish.
The market is just grinding along: $BTC is around $81,500 and $BNB around $720, both hovering near key levels. Don’t go adding recklessly to high-leverage positions over the next couple of days. Holding spot steadily is better than anything.
#DerivativesData