After that dump tonight, the first thing I looked at wasn’t what had been cut in half—it was what had barely moved.
After trading above $80,000 during the day, BTC has fallen back to around $75,700 over the past hour or two, down a little over 5% in 24 hours. ETH has dropped to around $2,250, down about 7%. According to public liquidation data, more than $500 million in long positions were liquidated in just the past hour. This wasn’t a slow bleed—it was leverage getting wiped out in one fell swoop.
The altcoins are performing wildly differently. WLD and ENA are down about 12% on the day, and UNI is nearly 12% lower too, all on elevated volume. TRX, by contrast, is down only a little over 1%, still hovering around 0.316—it has barely budged despite the broader market getting hammered. I make a note of that kind of relative resilience, but it doesn’t mean I’m rushing to buy.
One simple lesson from the mistakes I’ve made over the years: during a wave of liquidations, the coins getting the most attention are often the first to get crushed; the ones that truly hold up are usually so quiet that nobody cares about them.
I’m not talking about buying the dip tonight. What are you watching more closely right now: relatively resilient TRX, or getting your leveraged positions completely cleared out first?
These are only my personal views and do not constitute investment advice. Markets carry risk.
$TRX $BTC $ETH
After trading above $80,000 during the day, BTC has fallen back to around $75,700 over the past hour or two, down a little over 5% in 24 hours. ETH has dropped to around $2,250, down about 7%. According to public liquidation data, more than $500 million in long positions were liquidated in just the past hour. This wasn’t a slow bleed—it was leverage getting wiped out in one fell swoop.
The altcoins are performing wildly differently. WLD and ENA are down about 12% on the day, and UNI is nearly 12% lower too, all on elevated volume. TRX, by contrast, is down only a little over 1%, still hovering around 0.316—it has barely budged despite the broader market getting hammered. I make a note of that kind of relative resilience, but it doesn’t mean I’m rushing to buy.
One simple lesson from the mistakes I’ve made over the years: during a wave of liquidations, the coins getting the most attention are often the first to get crushed; the ones that truly hold up are usually so quiet that nobody cares about them.
I’m not talking about buying the dip tonight. What are you watching more closely right now: relatively resilient TRX, or getting your leveraged positions completely cleared out first?
These are only my personal views and do not constitute investment advice. Markets carry risk.
$TRX $BTC $ETH