One hour before the weekly close, $800 million was liquidated in four hours, with longs accounting for over 90%.
According to Coinglass data (also reported by Odaily and ChainCatcher), about $803 million was liquidated across the market in the past four hours, including $744 million in long positions and less than $60 million in shorts. ETH liquidations totaled about $358 million, while BTC liquidations came to around $233 million. BlockBeats noted that at one point, Bitcoin wicked down to $73,510 at 07:38 Beijing time, just before the weekly candle closed.
Why did so many longs get wiped out? The market was already trending down, and many people had leveraged positions in the same direction. When the price wobbled, liquidation orders were triggered one after another, pushing the price even lower. That’s a liquidation cascade.
A tip for beginners: the higher your leverage, the closer your liquidation price is to your entry price. Volatility is already high around weekly and monthly closes. If you haven’t thought through your stop-loss and position size, don’t try to ride it out.
When was the last time a wick took you out? Share in the comments.
#爆仓 #比特币 #BeginnerClass
According to Coinglass data (also reported by Odaily and ChainCatcher), about $803 million was liquidated across the market in the past four hours, including $744 million in long positions and less than $60 million in shorts. ETH liquidations totaled about $358 million, while BTC liquidations came to around $233 million. BlockBeats noted that at one point, Bitcoin wicked down to $73,510 at 07:38 Beijing time, just before the weekly candle closed.
Why did so many longs get wiped out? The market was already trending down, and many people had leveraged positions in the same direction. When the price wobbled, liquidation orders were triggered one after another, pushing the price even lower. That’s a liquidation cascade.
A tip for beginners: the higher your leverage, the closer your liquidation price is to your entry price. Volatility is already high around weekly and monthly closes. If you haven’t thought through your stop-loss and position size, don’t try to ride it out.
When was the last time a wick took you out? Share in the comments.
#爆仓 #比特币 #BeginnerClass