I always take a quick look at the liquidation leaderboard before bed. Tonight, two of the top spots aren’t even crypto.
According to TRdesk data from 13 exchanges, as of around 1:50 a.m. Beijing time, liquidations over the past four hours were about $14.8 million for BTC and $8 million for ETH. Right behind them were Sandisk stock perpetuals at about $6 million and SOXL, the 3x leveraged semiconductor ETF, at about $4 million. SOL was only around $1.5 million.
In other words, during these few hours of the U.S. stock market session, some of the hottest leveraged trading on crypto exchanges was already bets on chip stocks.
This means two things for us. First, leverage in crypto itself is pretty quiet right now. ETH has seen about $500 million liquidated over the past 24 hours, with more than 90% of that from longs, but only about $56 million over the past 12 hours. Most of it was already wiped out in that big move during the day. Second, a wobble in U.S. tech stocks can now spill over into the same account faster and more directly. You probably still remember how that Nasdaq drop last week dragged crypto down with it.
As for prices, BTC is around $74,700, down about 1.3% in 24 hours; ETH is around $2,125, down 4.6%; and the Fear and Greed Index is at 29.
Before bed, I did these things:
1. If I have both crypto and stock perpetuals open in my futures account, I’ll close the stock positions first. I can’t keep an eye on them during U.S. market hours, so I shouldn’t let them make decisions for me while I’m asleep.
2. I’ll check my margin mode and make sure it’s isolated, so a sudden move in chip stocks doesn’t drag my crypto positions down with it.
3. I’ve set BTC alerts at 73,000 and 76,000, and ETH alerts at 2,080 and 2,200. I’ll get up and check if either level is hit; if not, I can sleep easy.
4. U.S. CPI is due at 9:30 p.m. tonight. I won’t open any new positions before the release.
The mistakes I’ve made over the years have taught me a habit: if I don’t understand a market or can’t keep an eye on it, I don’t use leverage—even if it’s right there in the same app.
A question for you: Have you ever opened stock perpetuals in your account? Was it for hedging, or just because you thought it was exciting?
$BTC $ETH
This is only my personal opinion and does not constitute investment advice.
According to TRdesk data from 13 exchanges, as of around 1:50 a.m. Beijing time, liquidations over the past four hours were about $14.8 million for BTC and $8 million for ETH. Right behind them were Sandisk stock perpetuals at about $6 million and SOXL, the 3x leveraged semiconductor ETF, at about $4 million. SOL was only around $1.5 million.
In other words, during these few hours of the U.S. stock market session, some of the hottest leveraged trading on crypto exchanges was already bets on chip stocks.
This means two things for us. First, leverage in crypto itself is pretty quiet right now. ETH has seen about $500 million liquidated over the past 24 hours, with more than 90% of that from longs, but only about $56 million over the past 12 hours. Most of it was already wiped out in that big move during the day. Second, a wobble in U.S. tech stocks can now spill over into the same account faster and more directly. You probably still remember how that Nasdaq drop last week dragged crypto down with it.
As for prices, BTC is around $74,700, down about 1.3% in 24 hours; ETH is around $2,125, down 4.6%; and the Fear and Greed Index is at 29.
Before bed, I did these things:
1. If I have both crypto and stock perpetuals open in my futures account, I’ll close the stock positions first. I can’t keep an eye on them during U.S. market hours, so I shouldn’t let them make decisions for me while I’m asleep.
2. I’ll check my margin mode and make sure it’s isolated, so a sudden move in chip stocks doesn’t drag my crypto positions down with it.
3. I’ve set BTC alerts at 73,000 and 76,000, and ETH alerts at 2,080 and 2,200. I’ll get up and check if either level is hit; if not, I can sleep easy.
4. U.S. CPI is due at 9:30 p.m. tonight. I won’t open any new positions before the release.
The mistakes I’ve made over the years have taught me a habit: if I don’t understand a market or can’t keep an eye on it, I don’t use leverage—even if it’s right there in the same app.
A question for you: Have you ever opened stock perpetuals in your account? Was it for hedging, or just because you thought it was exciting?
$BTC $ETH
This is only my personal opinion and does not constitute investment advice.