Buying the dip for three days, then $690 million wiped out in an hour: this time, it’s not just prices falling—it’s leverage itself.
Over the past hour, liquidations across the market totaled about $691 million, including $671 million in long positions and just $19.5 million in shorts. Longs trying to buy the dip accounted for 97% of liquidations. More than $360 million was wiped out in just five minutes. Long liquidations totaled about $645 million over 30 minutes, and nearly $2 billion over 24 hours.
$BTC is currently around $63,584, down 6.84% on the day, after hitting an intraday low of $63,320. It closed at $74,015 on November 11, meaning it has fallen about $10,400 in just over three days. The 200-week moving average, around $67,800, has been breached, and ETH has also fallen to about $1,749.
My take: The most striking thing about this move isn’t how far prices have fallen, but how one-sided the longs are. Shorts accounted for less than 3% of liquidations over the past hour, suggesting almost no one in the market dares to go short. Instead, dip buyers are trying to catch a falling knife. The more thoroughly leverage is flushed out, the stronger the basis for a rebound—but the process isn’t over yet. If $63,000 holds, there may be a chance for a short-term bounce back toward the $68,000 moving average. If it doesn’t, $62,000 and the round-number level of $60,000 are next. Being oversold doesn’t mean the bottom is in, so don’t rush to buy the dip.
Data as of: 2026-11-14 23:02 UTC
For informational purposes only; this is not investment advice.
Over the past hour, liquidations across the market totaled about $691 million, including $671 million in long positions and just $19.5 million in shorts. Longs trying to buy the dip accounted for 97% of liquidations. More than $360 million was wiped out in just five minutes. Long liquidations totaled about $645 million over 30 minutes, and nearly $2 billion over 24 hours.
$BTC is currently around $63,584, down 6.84% on the day, after hitting an intraday low of $63,320. It closed at $74,015 on November 11, meaning it has fallen about $10,400 in just over three days. The 200-week moving average, around $67,800, has been breached, and ETH has also fallen to about $1,749.
My take: The most striking thing about this move isn’t how far prices have fallen, but how one-sided the longs are. Shorts accounted for less than 3% of liquidations over the past hour, suggesting almost no one in the market dares to go short. Instead, dip buyers are trying to catch a falling knife. The more thoroughly leverage is flushed out, the stronger the basis for a rebound—but the process isn’t over yet. If $63,000 holds, there may be a chance for a short-term bounce back toward the $68,000 moving average. If it doesn’t, $62,000 and the round-number level of $60,000 are next. Being oversold doesn’t mean the bottom is in, so don’t rush to buy the dip.
Data as of: 2026-11-14 23:02 UTC
For informational purposes only; this is not investment advice.
