The guillotine has fallen! $ETH 2500+ long positions buried alive—is 2,300 the abyssal bottom?
The truth behind this morning’s drop: long-side panic selling and ETF outflows. More than $50 million in ETH long positions were liquidated in 24 hours, accounting for over 80% of all liquidations. Spot ETFs saw net outflows of over $1 billion in October—institutions are voting with their feet.
Will it keep falling? Where’s the bottom? It will most likely continue probing lower. 2,286 is a key liquidation cluster below; if the price breaks through it, $676 million in long positions will face liquidation. Near-term support is at 2,300–2,320. If that fails, the next target is 2,000.
A way to manage your position: don’t fantasize about breaking even. At the current price of 2,363, if it rebounds to around 2,400–2,420, decisively reduce your position or hedge with shorts, using short profits to offset losses on your longs. If you stubbornly hold on, once 2,300 breaks, your 2,500 longs will become nothing but “souvenirs.”
If you’re still holding longs, are you getting ready to cut your losses and exit, or betting on a rebound? Comment 1 below—I want to see how many “comrades in arms” are out there.
#股票财报季 #币安神算子 $BTC $IRYS
The truth behind this morning’s drop: long-side panic selling and ETF outflows. More than $50 million in ETH long positions were liquidated in 24 hours, accounting for over 80% of all liquidations. Spot ETFs saw net outflows of over $1 billion in October—institutions are voting with their feet.
Will it keep falling? Where’s the bottom? It will most likely continue probing lower. 2,286 is a key liquidation cluster below; if the price breaks through it, $676 million in long positions will face liquidation. Near-term support is at 2,300–2,320. If that fails, the next target is 2,000.
A way to manage your position: don’t fantasize about breaking even. At the current price of 2,363, if it rebounds to around 2,400–2,420, decisively reduce your position or hedge with shorts, using short profits to offset losses on your longs. If you stubbornly hold on, once 2,300 breaks, your 2,500 longs will become nothing but “souvenirs.”
If you’re still holding longs, are you getting ready to cut your losses and exit, or betting on a rebound? Comment 1 below—I want to see how many “comrades in arms” are out there.
#股票财报季 #币安神算子 $BTC $IRYS