ETH’s market cap is less than one-sixth of BTC’s, yet its liquidations over the past 24 hours were even higher than BTC’s.
As of around noon Beijing time today, roughly $724 million was liquidated across the market in the past 24 hours. ETH alone accounted for about $259 million, compared with around $204 million for BTC. Long positions made up more than 70% of liquidations for both.
Honestly, that ratio says a lot. BTC fell a little over 1%, while ETH dropped more than 2%—not an outrageous decline, but leverage is clearly concentrated in ETH. Even a small move can wipe out a whole lot of positions.
Options are telling the same story. For the period through 11/15, the one-standard-deviation price ranges implied by options are ±6% for BTC, 8.5% for ETH, 9.3% for SOL, and 9.7% for XRP. The further down you go, the more the market expects prices to swing.
So while BTC is hovering around $73,700, the ones really feeling the pain are people holding highly leveraged ETH longs. ETH is now around $2,066, after the CPI release had already knocked it down to around $2,030.
If BTC can’t hold $73,000, ETH’s liquidation chart will probably get even longer.
#以太坊 #比特币 #爆仓 $ETH $BTC
As of around noon Beijing time today, roughly $724 million was liquidated across the market in the past 24 hours. ETH alone accounted for about $259 million, compared with around $204 million for BTC. Long positions made up more than 70% of liquidations for both.
Honestly, that ratio says a lot. BTC fell a little over 1%, while ETH dropped more than 2%—not an outrageous decline, but leverage is clearly concentrated in ETH. Even a small move can wipe out a whole lot of positions.
Options are telling the same story. For the period through 11/15, the one-standard-deviation price ranges implied by options are ±6% for BTC, 8.5% for ETH, 9.3% for SOL, and 9.7% for XRP. The further down you go, the more the market expects prices to swing.
So while BTC is hovering around $73,700, the ones really feeling the pain are people holding highly leveraged ETH longs. ETH is now around $2,066, after the CPI release had already knocked it down to around $2,030.
If BTC can’t hold $73,000, ETH’s liquidation chart will probably get even longer.
#以太坊 #比特币 #爆仓 $ETH $BTC