Saturday morning, thin liquidity, and $BTC just slid under $67K, a fresh 3-month low. Roughly $250M of longs got wiped in about an hour, and $ETH is hanging around $1,900.
I've watched this weekend pattern for years. Fewer buyers on the book, a few stacked long stops, and one push turns into a cascade. The move itself is only about 3% on the day. The damage comes from leverage, not from news.
What bugs me is the positioning. Ardi pointed out that open interest has climbed almost 30% since the $87K top and sits at its highest level since 2023, while price kept sinking. And Binance funding is still slightly positive, so longs are still paying to hold. That's not capitulation. That's people averaging down with borrowed money.
In 2018 and 2022 the real lows came after the leverage was gone, not while it was still piling in. One flush doesn't clear that much.
What I'm watching:
• whether OI actually drops over the weekend
• funding flipping negative
• a daily close back above $68K
Do you think this was the flush, or just round one?
#Bitcoin #Liquidations #Ethereum #OpenInterest #BinanceSquare
Not financial advice. DYOR.
I've watched this weekend pattern for years. Fewer buyers on the book, a few stacked long stops, and one push turns into a cascade. The move itself is only about 3% on the day. The damage comes from leverage, not from news.
What bugs me is the positioning. Ardi pointed out that open interest has climbed almost 30% since the $87K top and sits at its highest level since 2023, while price kept sinking. And Binance funding is still slightly positive, so longs are still paying to hold. That's not capitulation. That's people averaging down with borrowed money.
In 2018 and 2022 the real lows came after the leverage was gone, not while it was still piling in. One flush doesn't clear that much.
What I'm watching:
• whether OI actually drops over the weekend
• funding flipping negative
• a daily close back above $68K
Do you think this was the flush, or just round one?
#Bitcoin #Liquidations #Ethereum #OpenInterest #BinanceSquare
Not financial advice. DYOR.
