ETH TOOK THE HIT. NOT BTC.
$1.29 billion liquidated in 24 hours. ETH accounted for $591 million of it. BTC: $330 million.
ETH lost 5.02% to $2,127. BTC fell 1.34% to $74,842. One whale alone was liquidated for $135 million in ETH longs.
That's not a broad market flush. That's a concentrated ETH deleveraging event. BTC is still hovering near the $75,000 support zone. ETH broke through $2,100 without a fight.
The gap tells you where leverage was stacked. Traders were over-positioned in ETH, not BTC.
The Fed's rate hike odds for December jumped to 76.8% on Friday. If that holds, the ETH unwind has room to continue.
Watching if BTC holds $75K while ETH searches for a floor.
$ETH $BTC
#Ethereum #Liquidations #Leverage #MacroPressure #MarketStructure
$1.29 billion liquidated in 24 hours. ETH accounted for $591 million of it. BTC: $330 million.
ETH lost 5.02% to $2,127. BTC fell 1.34% to $74,842. One whale alone was liquidated for $135 million in ETH longs.
That's not a broad market flush. That's a concentrated ETH deleveraging event. BTC is still hovering near the $75,000 support zone. ETH broke through $2,100 without a fight.
The gap tells you where leverage was stacked. Traders were over-positioned in ETH, not BTC.
The Fed's rate hike odds for December jumped to 76.8% on Friday. If that holds, the ETH unwind has room to continue.
Watching if BTC holds $75K while ETH searches for a floor.
$ETH $BTC
#Ethereum #Liquidations #Leverage #MacroPressure #MarketStructure
