Rough night for anyone running leverage.
CoinDesk, using CoinGlass data, counts over $1B in positions liquidated in 24 hours as $BTC slipped to about 73.7k, lowest since August, then bounced back over 75k. $913M of that was longs.
The part I noticed, $ETH got hit way harder than BTC. Around $448M in ETH liquidations vs $272M for BTC, and the single biggest order wiped was a $48M ETH position.
Weekend triggers were the Nvidia board probe headlines and Rubio saying Iran talks stalled. Crypto was the only market open so it took the hit first.
For me the takeaway is simple, books got crowded long into a weak tape and got flushed. Tokenized NVDA was also trading under Friday's close, so stocks opening today matter for the next move.
CoinDesk, using CoinGlass data, counts over $1B in positions liquidated in 24 hours as $BTC slipped to about 73.7k, lowest since August, then bounced back over 75k. $913M of that was longs.
The part I noticed, $ETH got hit way harder than BTC. Around $448M in ETH liquidations vs $272M for BTC, and the single biggest order wiped was a $48M ETH position.
Weekend triggers were the Nvidia board probe headlines and Rubio saying Iran talks stalled. Crypto was the only market open so it took the hit first.
For me the takeaway is simple, books got crowded long into a weak tape and got flushed. Tokenized NVDA was also trading under Friday's close, so stocks opening today matter for the next move.
