You think it’s only Bitcoin that’s falling? The ones really getting wrecked are the people trying to buy the dip with high leverage
Over the past 24 hours, $BTC long positions were liquidated, worth $72.58 million, while short positions worth just $7.68 million were liquidated
The gap between bulls and bears shows just how brutal the market has become
This suggests the market had a significant buildup of leveraged long positions, and the sudden drop triggered a cascade of liquidations
Note‼️Liquidation data reflects forced liquidations that have already happened; it doesn’t mean prices will definitely keep falling
Once the longs have been cleared out, the risk of another short-term sell-off may actually be lower
Would you look for a rebound at this level, or keep waiting for a lower entry?
#BTC #Bitcoin
Over the past 24 hours, $BTC long positions were liquidated, worth $72.58 million, while short positions worth just $7.68 million were liquidated
The gap between bulls and bears shows just how brutal the market has become
This suggests the market had a significant buildup of leveraged long positions, and the sudden drop triggered a cascade of liquidations
Note‼️Liquidation data reflects forced liquidations that have already happened; it doesn’t mean prices will definitely keep falling
Once the longs have been cleared out, the risk of another short-term sell-off may actually be lower
Would you look for a rebound at this level, or keep waiting for a lower entry?
#BTC #Bitcoin
