According to CoinNess’s figures at the time, approximately $1.445 billion in futures positions across the market were liquidated over the past 24 hours.
Of that:
Approximately $712 million in BTC positions were liquidated, with long positions accounting for 91.24%;
Approximately $307 million in ETH positions were liquidated, with long positions accounting for 79.64%.
This shows that leveraged longs who chased the rally came under considerable pressure during this downturn.
But note: liquidations don’t mean all spot capital has left the market. Once longs are liquidated, leverage pressure may ease temporarily, or prices may continue to fall. What matters most is whether spot buying can absorb the selling.
Where will prices find a bottom?
#BTC #ETH
Of that:
Approximately $712 million in BTC positions were liquidated, with long positions accounting for 91.24%;
Approximately $307 million in ETH positions were liquidated, with long positions accounting for 79.64%.
This shows that leveraged longs who chased the rally came under considerable pressure during this downturn.
But note: liquidations don’t mean all spot capital has left the market. Once longs are liquidated, leverage pressure may ease temporarily, or prices may continue to fall. What matters most is whether spot buying can absorb the selling.
Where will prices find a bottom?
#BTC #ETH