Bros!!! From Sunday night into the early hours of Monday, leveraged longs got absolutely flattened!!!
CoinGlass (BeInCrypto / Zhitong Finance, Nov. 9): Around $856 million in positions were liquidated across the entire market over 24 hours, wiping out more than 140,000 traders. Longs accounted for about 90.2%. PANews also spotted roughly $745 million in liquidations in just that one early-morning hour, almost all of them long positions (about $715 million). Bitcoin briefly plunged to around $73,700, its lowest level since August; ETH briefly dropped to around $2,060–$2,100, haha.
Seriously, that “nothing happening, just grinding sideways” over the weekend was an illusion!!! Spot ETFs already saw about $1.28 billion in outflows last week, and the short-term holder cost basis, according to Glassnode, at around $75,700 got breached too. Once leverage started unwinding, the liquidations cascaded. Don’t treat “it has to bounce after a dump” as a signal—just wait and see if real buyers step in～
I just checked CoinGecko: Bitcoin is around $75,100, ETH around $2,140, BNB around $688, and SOL around $88; the Fear & Greed Index is 29, still in fear territory～U.S. stocks open tonight, and tomorrow (Nov. 10) at 21:30 Shanghai time we also get October CPI. Don’t go piling into leveraged trades before the data drops!!!
Do you think $75K can hold, or are we going to test $70K first?
$BTC $ETH
#爆仓 #Crypto
CoinGlass (BeInCrypto / Zhitong Finance, Nov. 9): Around $856 million in positions were liquidated across the entire market over 24 hours, wiping out more than 140,000 traders. Longs accounted for about 90.2%. PANews also spotted roughly $745 million in liquidations in just that one early-morning hour, almost all of them long positions (about $715 million). Bitcoin briefly plunged to around $73,700, its lowest level since August; ETH briefly dropped to around $2,060–$2,100, haha.
Seriously, that “nothing happening, just grinding sideways” over the weekend was an illusion!!! Spot ETFs already saw about $1.28 billion in outflows last week, and the short-term holder cost basis, according to Glassnode, at around $75,700 got breached too. Once leverage started unwinding, the liquidations cascaded. Don’t treat “it has to bounce after a dump” as a signal—just wait and see if real buyers step in～
I just checked CoinGecko: Bitcoin is around $75,100, ETH around $2,140, BNB around $688, and SOL around $88; the Fear & Greed Index is 29, still in fear territory～U.S. stocks open tonight, and tomorrow (Nov. 10) at 21:30 Shanghai time we also get October CPI. Don’t go piling into leveraged trades before the data drops!!!
Do you think $75K can hold, or are we going to test $70K first?
$BTC $ETH
#爆仓 #Crypto