Ether is about a sixth the size of Bitcoin and still got liquidated harder overnight. $448M of $ETH positions got wiped vs $272M of $BTC , per CoinGlass.
Ran the maths so the group chat doesn't have to.
Per $1B of market cap, ETH traders lost about $1.74M to liquidations. BTC traders lost about $0.18M. That's roughly 9.5x more damage per dollar on the smaller coin.
Across crypto it was over $1B in 24 hours, and $913M of that was longs. BTC wicked to about $73,761, its lowest since August, then climbed back above $75K. ETH dipped under $2,100 and the single biggest liquidation of the day was a $48M ETH order.
Same Nvidia and Iran headlines hit both coins. One of them was just carrying far more leverage into the weekend.
The leverage got flushed. ETH is still down about 5% on the day to BTC's 2%, so the bruise stayed.
$ETH $BTC
#Ethereum #CryptoMarket
NFA. DYOR.
Ran the maths so the group chat doesn't have to.
Per $1B of market cap, ETH traders lost about $1.74M to liquidations. BTC traders lost about $0.18M. That's roughly 9.5x more damage per dollar on the smaller coin.
Across crypto it was over $1B in 24 hours, and $913M of that was longs. BTC wicked to about $73,761, its lowest since August, then climbed back above $75K. ETH dipped under $2,100 and the single biggest liquidation of the day was a $48M ETH order.
Same Nvidia and Iran headlines hit both coins. One of them was just carrying far more leverage into the weekend.
The leverage got flushed. ETH is still down about 5% on the day to BTC's 2%, so the bruise stayed.
$ETH $BTC
#Ethereum #CryptoMarket
NFA. DYOR.
