most of this weeks liquidation wipeout wasnt bitcoin, it was eth longs
#CryptoLiquidationsReach$1.16BIn24Hours
longs got hit way harder than shorts, and $ETH took the bigger share while $BTC held up better
my read, it cuts both ways. a lot of forced sellers are already gone, so the next leg down needs real spot selling. but cleaned out leverage doesnt mean buyers show up. if open interest rebuilds fast on the bounce, its the same crowd leaning long again and it can flush twice
im watching eth back above 2,100 with open interest flat. that means spot is doing the lifting. a bounce on rising oi and i stay patient
does eth reclaim that level on spot bids this week, or does leverage pile back in first ?
#CryptoLiquidationsReach$1.16BIn24Hours
longs got hit way harder than shorts, and $ETH took the bigger share while $BTC held up better
my read, it cuts both ways. a lot of forced sellers are already gone, so the next leg down needs real spot selling. but cleaned out leverage doesnt mean buyers show up. if open interest rebuilds fast on the bounce, its the same crowd leaning long again and it can flush twice
im watching eth back above 2,100 with open interest flat. that means spot is doing the lifting. a bounce on rising oi and i stay patient
does eth reclaim that level on spot bids this week, or does leverage pile back in first ?
