📉 Overnight ETH Flash Crash Recap｜Long Liquidation Cascade
Around 05:00–06:00 this morning (during the thinnest part of the Asian session), ETH plunged from ~$2,200–2,245 to around $2,050–2,060, down roughly 7% in 15 minutes; BTC also dipped to around $73,500 (about −3%). ETH/BTC was noticeably weaker.
💥 Liquidation figures (cross-checked with CoinGlass and other sources)
• Around $745 million in liquidations across the market in roughly 1 hour, with longs accounting for over 90%
• On a 24-hour basis, around $850–860 million; more than 140,000 traders were liquidated
• Largest single liquidation: around $48.16 million in Binance ETH/USDT perpetuals (trigger price ~$2,095)
• Hyperliquid also saw a large ETH long position taken over
📌 What are the mainstream takes on X?
1️⃣ Leverage liquidation cascade (strongest consensus): thin weekend order books + crowded longs → stop-losses and liquidations set off a chain reaction. A sharp wick can form even without a new industry black swan event.
2️⃣ Liquidity hunt: stops below support were swept; a rebound after a wick ≠ a trend reversal
3️⃣ Continued ETF outflows: U.S. spot BTC ETFs saw net outflows of around $1.28 billion last week; ETH ETFs also had consecutive weeks of outflows, leaving spot buying weak
4️⃣ Jensen Huang rumors: Chinese-language circles have been loudly debating them as a catalyst, but more measured posts see them as a scapegoat for sentiment; the root causes remain deleveraging + thin liquidity
😱 Fear & Greed Index (Alternative.me)
Today: 29 Fear｜Yesterday: 28｜It reached 25, Extreme Fear, on 11/7
A month ago it was still at 64, Greed; sentiment has cooled considerably
In short: this was a cascade of long liquidations amid thin liquidity, with ETH weaker than BTC; sentiment remains in fear territory. The rebound is a vacuum-driven surge—don't rush to call a bottom before prices reclaim the level where the decline began.
⚠️ The above is for market observation and a summary of public information only; it does not constitute investment advice. DYOR.
Around 05:00–06:00 this morning (during the thinnest part of the Asian session), ETH plunged from ~$2,200–2,245 to around $2,050–2,060, down roughly 7% in 15 minutes; BTC also dipped to around $73,500 (about −3%). ETH/BTC was noticeably weaker.
💥 Liquidation figures (cross-checked with CoinGlass and other sources)
• Around $745 million in liquidations across the market in roughly 1 hour, with longs accounting for over 90%
• On a 24-hour basis, around $850–860 million; more than 140,000 traders were liquidated
• Largest single liquidation: around $48.16 million in Binance ETH/USDT perpetuals (trigger price ~$2,095)
• Hyperliquid also saw a large ETH long position taken over
📌 What are the mainstream takes on X?
1️⃣ Leverage liquidation cascade (strongest consensus): thin weekend order books + crowded longs → stop-losses and liquidations set off a chain reaction. A sharp wick can form even without a new industry black swan event.
2️⃣ Liquidity hunt: stops below support were swept; a rebound after a wick ≠ a trend reversal
3️⃣ Continued ETF outflows: U.S. spot BTC ETFs saw net outflows of around $1.28 billion last week; ETH ETFs also had consecutive weeks of outflows, leaving spot buying weak
4️⃣ Jensen Huang rumors: Chinese-language circles have been loudly debating them as a catalyst, but more measured posts see them as a scapegoat for sentiment; the root causes remain deleveraging + thin liquidity
😱 Fear & Greed Index (Alternative.me)
Today: 29 Fear｜Yesterday: 28｜It reached 25, Extreme Fear, on 11/7
A month ago it was still at 64, Greed; sentiment has cooled considerably
In short: this was a cascade of long liquidations amid thin liquidity, with ETH weaker than BTC; sentiment remains in fear territory. The rebound is a vacuum-driven surge—don't rush to call a bottom before prices reclaim the level where the decline began.
⚠️ The above is for market observation and a summary of public information only; it does not constitute investment advice. DYOR.