Short sellers got liquidated for nearly $1 billion yesterday. Today, it’s the longs’ turn 👇
Coinglass data: Over the past 24 hours, total liquidations across the crypto market hit $1.08 billion, with long positions accounting for $956 million—nearly 90%. Bitcoin plunged from $81,000 to just above $75,000, a seven-week low, while ETH also fell around 8%.
Yesterday, short sellers refused to believe the trend had changed. Today, longs jumped in to buy the dip too early. Put simply, people pile on leverage after one day of gains and try to catch falling knives after one day of losses.
Spot ETFs saw $75 million flow back in on November 4, but on the 5th, VanEck and ARK alone saw outflows of more than $42 million. Chasing the rally one day, buying the dip the next—both sides take turns paying tuition.
$BTC $ETH
Coinglass data: Over the past 24 hours, total liquidations across the crypto market hit $1.08 billion, with long positions accounting for $956 million—nearly 90%. Bitcoin plunged from $81,000 to just above $75,000, a seven-week low, while ETH also fell around 8%.
Yesterday, short sellers refused to believe the trend had changed. Today, longs jumped in to buy the dip too early. Put simply, people pile on leverage after one day of gains and try to catch falling knives after one day of losses.
Spot ETFs saw $75 million flow back in on November 4, but on the 5th, VanEck and ARK alone saw outflows of more than $42 million. Chasing the rally one day, buying the dip the next—both sides take turns paying tuition.
$BTC $ETH
