Bottom line: FIL saw $1.9 million in liquidations over the past hour, almost all of them longs. Traders chasing the rally are being liquidated wave after wave.
FIL saw $1.903 million in long liquidations, compared with just $1,955 in short liquidations, putting the long share close to 100%. The total isn’t the largest across the market, but the direction is highly one-sided, suggesting the drop first hit leveraged long positions.
Over the same hour, BTC and ETH also saw mostly long liquidations, while FIL ranked third among individual coins by liquidations, with short-term volatility clearly exceeding the broader market. Don’t interpret fewer liquidations as a sign that the price has bottomed. Until leverage has been fully flushed out, chasing a rebound with long positions can still leave you vulnerable to a sharp reversal.
$FIL $BTC
Do you think this move in FIL is a rebound after flushing out long positions, or will liquidations continue?
Real-time view: https://www.coinboss.com/zh/liquidations/FIL