Yesterday, shorts got liquidated; today, longs got liquidated. The tables turned in 24 hours, and the crypto market never puts on the same show two days in a row.
Yesterday morning, Bitcoin surged above $80,000. Shorts lost $975 million in a single day, and 129,000 traders were liquidated. Those chasing the rally thought the bull market was back.
Today, Nasdaq AI stocks plunged, falling nearly 5% at one point. Bitcoin tumbled from a high of $81,100 to $75,500, breaking below $76,000 and the 50-week moving average at $75,700. CoinGlass data: $1.08 billion in liquidations over 24 hours, including $954 million in longs—88% of the total. 210,000 traders were liquidated; Bitcoin accounted for $280 million and Ethereum for $175 million. Binance alone made up around 45%.
The worst hit was one trader: eight consecutive liquidations wiped out 201 Bitcoin, worth about $15.6 million, in just minutes. The largest single position was a $10.94 million Ethereum long on Binance.
Those who chased shorts died yesterday; those who chased longs died today. The people who bought the dip at $75,600 yesterday are still smiling today. Those who chased Bitcoin above $80,000 yesterday with high-leverage long positions are gone.
To make matters worse, Trump Media transferred 4,259 Bitcoin (about $343 million, nearly all of its convertible bond collateral) to Crypto.com today. A $1 billion convertible bond put-option deadline is coming up on November 30. Although a sale has not been confirmed, it’s hard for the market not to panic when the coins are moved at a time like this.
One day, shorts get liquidated; the next, longs do. The only thing in between was the U.S. stock market opening. With leveraged money, it’s always first come, first served—the latecomers are left holding the bag.
#比特币 #Liquidations
Yesterday morning, Bitcoin surged above $80,000. Shorts lost $975 million in a single day, and 129,000 traders were liquidated. Those chasing the rally thought the bull market was back.
Today, Nasdaq AI stocks plunged, falling nearly 5% at one point. Bitcoin tumbled from a high of $81,100 to $75,500, breaking below $76,000 and the 50-week moving average at $75,700. CoinGlass data: $1.08 billion in liquidations over 24 hours, including $954 million in longs—88% of the total. 210,000 traders were liquidated; Bitcoin accounted for $280 million and Ethereum for $175 million. Binance alone made up around 45%.
The worst hit was one trader: eight consecutive liquidations wiped out 201 Bitcoin, worth about $15.6 million, in just minutes. The largest single position was a $10.94 million Ethereum long on Binance.
Those who chased shorts died yesterday; those who chased longs died today. The people who bought the dip at $75,600 yesterday are still smiling today. Those who chased Bitcoin above $80,000 yesterday with high-leverage long positions are gone.
To make matters worse, Trump Media transferred 4,259 Bitcoin (about $343 million, nearly all of its convertible bond collateral) to Crypto.com today. A $1 billion convertible bond put-option deadline is coming up on November 30. Although a sale has not been confirmed, it’s hard for the market not to panic when the coins are moved at a time like this.
One day, shorts get liquidated; the next, longs do. The only thing in between was the U.S. stock market opening. With leveraged money, it’s always first come, first served—the latecomers are left holding the bag.
#比特币 #Liquidations
