The liquidation wave has faded, but prices are still making new lows—tonight’s drop below $66,000 wasn’t driven by leverage anymore.
$BTC Current price: $65,862, down 4.45% in 24 hours. It has fallen below $66,000, its lowest level since August 19. At 18:49, it was still at $67,197; in just four hours, it dropped another roughly $1,300.
But liquidations have gone quiet: Saturday’s Binance BTCUSDT liquidation volume was only one-fifth of Friday’s. Long liquidations totaled about $33.6 million, compared with $173 million on Friday.
Binance BTC perpetual open interest stands at 96,657 BTC, or about $6.44 billion, down 7.9% in 24 hours and 12.3% over the week. Leverage is being flushed out, not added.
$ETH 1,849 USD, down 5.31% in 24 hours, falling even harder than BTC. The $1,875 level has also been breached.
The Fear and Greed Index is at 13, indicating extreme fear; the daily RSI is 22.3.
My take: During the day, liquidations were still taking turns driving the sell-off. By evening, the liquidation wave had receded, but prices were still making new lows. That suggests this leg down wasn’t driven by forced liquidations, but by active selling in a thin weekend order book—or, more accurately, buyers pulled back first, so sellers didn’t need much force to push prices to new lows.
The key point: deleveraging is both good and bad. The good news is there’s less fuel for another cascade of liquidations on the way down. The bad news is that buyers haven’t stepped in, and spot demand hasn’t returned.
Keep an eye on three things: whether Sunday’s weekly close can reclaim the 200-week moving average, around $67,900; whether ETF flows continue to narrow or turn positive on Monday; and whether Binance perpetual open interest stops falling. Open interest stabilizing while prices stop making new lows would be the signal that deleveraging is over.
Do you think this kind of weekend action—“falling without liquidations”—means spot holders are fleeing, or was the weekend order book simply so thin that small orders pushed prices through support?
#比特币 #爆仓 #WeekendMarket
The above is for informational purposes only and does not constitute investment advice.
$BTC Current price: $65,862, down 4.45% in 24 hours. It has fallen below $66,000, its lowest level since August 19. At 18:49, it was still at $67,197; in just four hours, it dropped another roughly $1,300.
But liquidations have gone quiet: Saturday’s Binance BTCUSDT liquidation volume was only one-fifth of Friday’s. Long liquidations totaled about $33.6 million, compared with $173 million on Friday.
Binance BTC perpetual open interest stands at 96,657 BTC, or about $6.44 billion, down 7.9% in 24 hours and 12.3% over the week. Leverage is being flushed out, not added.
$ETH 1,849 USD, down 5.31% in 24 hours, falling even harder than BTC. The $1,875 level has also been breached.
The Fear and Greed Index is at 13, indicating extreme fear; the daily RSI is 22.3.
My take: During the day, liquidations were still taking turns driving the sell-off. By evening, the liquidation wave had receded, but prices were still making new lows. That suggests this leg down wasn’t driven by forced liquidations, but by active selling in a thin weekend order book—or, more accurately, buyers pulled back first, so sellers didn’t need much force to push prices to new lows.
The key point: deleveraging is both good and bad. The good news is there’s less fuel for another cascade of liquidations on the way down. The bad news is that buyers haven’t stepped in, and spot demand hasn’t returned.
Keep an eye on three things: whether Sunday’s weekly close can reclaim the 200-week moving average, around $67,900; whether ETF flows continue to narrow or turn positive on Monday; and whether Binance perpetual open interest stops falling. Open interest stabilizing while prices stop making new lows would be the signal that deleveraging is over.
Do you think this kind of weekend action—“falling without liquidations”—means spot holders are fleeing, or was the weekend order book simply so thin that small orders pushed prices through support?
#比特币 #爆仓 #WeekendMarket
The above is for informational purposes only and does not constitute investment advice.