PPI came in below expectations, but crypto prices still fell and liquidations doubled—good news arrives, yet longs get wiped out even faster?
Over the past 24 hours, forced liquidations across the crypto market totaled $1.23 billion. Longs accounted for $1.02 billion, or 82.7%. $BTC alone contributed $637 million, with longs making up 90.8%—nearly double the previous day's $325 million. $ETH followed with $257 million, of which 76.3% came from longs. 163,600 traders were liquidated, over 50,000 more than the day before. The most interesting part was the largest single liquidation: a $17.81 million ETH short on Binance was liquidated too. Shorts didn't escape either.
The price is now around $67,600, down 3.7% over 24 hours, and sitting just below the 200-week moving average at $67,900. This moving average provided support once in July and kicked off the rally in August. Whether the weekly candle can close back above it this Sunday is key. Below, $66,000–$67,000 is the first support zone, followed by $62,300, which has held twice this year. On the upside, $75,000 is the first level to watch.
This whale's take: longs weren't killed by the news this time—they were strangled by their own leverage. PPI came in below expectations, yet prices kept falling, which suggests the market is worried not about inflation data but about how thinner liquidity can turn even a small dip into a cascade of liquidations. But the liquidation wave is already cooling: around $1 billion in the first 12 hours, and just $41 million in the most recent four. Don't rush to buy the dip. Wait for liquidation activity to cool and for the weekly candle to reclaim the moving average. Trying to catch a falling knife amid a liquidation wave could cost you your shirt.
Over the past 24 hours, forced liquidations across the crypto market totaled $1.23 billion. Longs accounted for $1.02 billion, or 82.7%. $BTC alone contributed $637 million, with longs making up 90.8%—nearly double the previous day's $325 million. $ETH followed with $257 million, of which 76.3% came from longs. 163,600 traders were liquidated, over 50,000 more than the day before. The most interesting part was the largest single liquidation: a $17.81 million ETH short on Binance was liquidated too. Shorts didn't escape either.
The price is now around $67,600, down 3.7% over 24 hours, and sitting just below the 200-week moving average at $67,900. This moving average provided support once in July and kicked off the rally in August. Whether the weekly candle can close back above it this Sunday is key. Below, $66,000–$67,000 is the first support zone, followed by $62,300, which has held twice this year. On the upside, $75,000 is the first level to watch.
This whale's take: longs weren't killed by the news this time—they were strangled by their own leverage. PPI came in below expectations, yet prices kept falling, which suggests the market is worried not about inflation data but about how thinner liquidity can turn even a small dip into a cascade of liquidations. But the liquidation wave is already cooling: around $1 billion in the first 12 hours, and just $41 million in the most recent four. Don't rush to buy the dip. Wait for liquidation activity to cool and for the weekly candle to reclaim the moving average. Trying to catch a falling knife amid a liquidation wave could cost you your shirt.
