#加密市场24小时清算达11.6亿美元 🚨 Over $1.16 billion liquidated in 24 hours! ETH liquidations exceed BTC's as the crypto market undergoes a brutal deleveraging!
Another wave of massive liquidations has hit the crypto market!
According to CoinGlass data, more than $1.15 billion in leveraged positions were liquidated across the market in 24 hours, including about $1.04 billion in long positions—nearly 90% of the total.
Around 168,000 traders were affected.
More notably, ETH-related liquidations exceeded $500 million, significantly higher than BTC's approximately $309 million.
Meanwhile, Bitcoin briefly fell below $74,000, while market risk appetite remained under pressure.
In my view, the biggest signal from this sharp drop isn't that buyers suddenly disappeared, but that highly leveraged longs are being wiped out in a concentrated wave.
When large amounts of capital are betting on a rebound, a break below a key level can trigger forced liquidations and set off a chain reaction.
Selling pushes prices lower, triggering further liquidations and ultimately amplifying volatility across the entire market.
ETH liquidations exceeding BTC's also show that the Ethereum derivatives market has been under more pronounced leverage pressure.
This correction has also coincided with pressure on U.S. tech stocks, rising expectations of a U.S. rate hike in December, and macroeconomic uncertainty ahead of the CPI release.
My assessment is that while large-scale liquidations may help flush some excess leverage out of the market, they absolutely do not mean that a bottom has been confirmed.
What really matters is whether BTC can regain a foothold in a key price range after the liquidation wave subsides, and whether ETH open interest and funding rates can stabilize.
In the short term, I’m more inclined to watch for buyers stepping in at lower levels rather than blindly chasing a rally amid sharp volatility.
The most dangerous moments in the market often aren't the price declines themselves, but when high leverage turns an ordinary pullback into a cascade of liquidations.
Another wave of massive liquidations has hit the crypto market!
According to CoinGlass data, more than $1.15 billion in leveraged positions were liquidated across the market in 24 hours, including about $1.04 billion in long positions—nearly 90% of the total.
Around 168,000 traders were affected.
More notably, ETH-related liquidations exceeded $500 million, significantly higher than BTC's approximately $309 million.
Meanwhile, Bitcoin briefly fell below $74,000, while market risk appetite remained under pressure.
In my view, the biggest signal from this sharp drop isn't that buyers suddenly disappeared, but that highly leveraged longs are being wiped out in a concentrated wave.
When large amounts of capital are betting on a rebound, a break below a key level can trigger forced liquidations and set off a chain reaction.
Selling pushes prices lower, triggering further liquidations and ultimately amplifying volatility across the entire market.
ETH liquidations exceeding BTC's also show that the Ethereum derivatives market has been under more pronounced leverage pressure.
This correction has also coincided with pressure on U.S. tech stocks, rising expectations of a U.S. rate hike in December, and macroeconomic uncertainty ahead of the CPI release.
My assessment is that while large-scale liquidations may help flush some excess leverage out of the market, they absolutely do not mean that a bottom has been confirmed.
What really matters is whether BTC can regain a foothold in a key price range after the liquidation wave subsides, and whether ETH open interest and funding rates can stabilize.
In the short term, I’m more inclined to watch for buyers stepping in at lower levels rather than blindly chasing a rally amid sharp volatility.
The most dangerous moments in the market often aren't the price declines themselves, but when high leverage turns an ordinary pullback into a cascade of liquidations.
