💥 A $10.71 million ETH long, with only $2 of breathing room
A trader opened a 25x ETH long: 4,500 ETH worth about $10.71 million, entry at $2,366, liquidation at $2,364—with only $2 between them.
Overnight, U.S. stocks wiped out that $2 cushion: the Nasdaq fell 5.3%, the Philadelphia Semiconductor Index plunged 11.2%—its worst single-day drop since March 2020—and Sandisk and Micron fell about 20%. ETH crashed from $2,380 to $2,219, and is now at $2,229.15, down 8.25%—leaving virtually no room for error.
The problem isn't crypto; it's leveraged positions getting squeezed across risk assets. After trading sideways around $80,000 all day, BTC plunged to $75,568 in two hours. It is now at $75,664, down 6.06%; SOL is at $89.63, down 6.36%. One trader was liquidated after shorting at $1,420, then got wiped out again after buying the dip at $800. Even getting the direction right doesn't help when you're overleveraged.
Bottom line: $75,568 is the overnight low. If BTC can't reclaim it, the decline may continue. Trim positions first if it rebounds to $78,000, and avoid leverage ahead of the nonfarm payrolls report.
📊 Investment advice
• BTC — Bullish (oversold bounce; thesis invalidated below $74,000)
Take profit (TP): $81,700
Stop loss (SL): $69,600
• ETH — Bearish (short into any rebound)
Take profit (TP): $1,962
Stop loss (SL): $2,497
⚠️ Disclaimer: The above is only a personal opinion and does not constitute investment advice. Markets are volatile. Please DYOR and assume all risk yourself.
A trader opened a 25x ETH long: 4,500 ETH worth about $10.71 million, entry at $2,366, liquidation at $2,364—with only $2 between them.
Overnight, U.S. stocks wiped out that $2 cushion: the Nasdaq fell 5.3%, the Philadelphia Semiconductor Index plunged 11.2%—its worst single-day drop since March 2020—and Sandisk and Micron fell about 20%. ETH crashed from $2,380 to $2,219, and is now at $2,229.15, down 8.25%—leaving virtually no room for error.
The problem isn't crypto; it's leveraged positions getting squeezed across risk assets. After trading sideways around $80,000 all day, BTC plunged to $75,568 in two hours. It is now at $75,664, down 6.06%; SOL is at $89.63, down 6.36%. One trader was liquidated after shorting at $1,420, then got wiped out again after buying the dip at $800. Even getting the direction right doesn't help when you're overleveraged.
Bottom line: $75,568 is the overnight low. If BTC can't reclaim it, the decline may continue. Trim positions first if it rebounds to $78,000, and avoid leverage ahead of the nonfarm payrolls report.
📊 Investment advice
• BTC — Bullish (oversold bounce; thesis invalidated below $74,000)
Take profit (TP): $81,700
Stop loss (SL): $69,600
• ETH — Bearish (short into any rebound)
Take profit (TP): $1,962
Stop loss (SL): $2,497
⚠️ Disclaimer: The above is only a personal opinion and does not constitute investment advice. Markets are volatile. Please DYOR and assume all risk yourself.