We marked a cluster of leveraged longs near 74,500 $BTC
Tonight, the price went after it. The high-frequency chart showed half an hour of selling pressure, culminating in one second with 6,028 trades. The price broke through the cluster down to 73,333, Open Interest fell, and as soon as it hit the liquidity, the pressure reversed and the price bounced.
In the aggregated data, that hour saw around USD 224 million in liquidated longs, the highest figure of the week. With moderate spot volume, the move came from the leveraged market.
#BTC #Binance #BinanceSquare
Tonight, the price went after it. The high-frequency chart showed half an hour of selling pressure, culminating in one second with 6,028 trades. The price broke through the cluster down to 73,333, Open Interest fell, and as soon as it hit the liquidity, the pressure reversed and the price bounced.
In the aggregated data, that hour saw around USD 224 million in liquidated longs, the highest figure of the week. With moderate spot volume, the move came from the leveraged market.
#BTC #Binance #BinanceSquare