I woke up, checked my phone, and CoinGlass’s data scared me wide awake: Over the past 24 hours, $2.058 billion in positions were liquidated across the crypto market, wiping out 329,000 traders. Longs accounted for $1.922 billion of that. In plain English: It wasn’t the bears who won—it was dip buyers getting liquidated one after another.
And retail traders weren’t even the worst hit. One address, 0xc05b, was liquidated seven times in 10 hours, losing 172 BTC and 2,984 ETH—a total of $16.47 million, gone just like that. Then there’s Ian from 48 Club, who lost around $20 million today alone and over $90 million in the past 30 days. Lookonchain dug up the details, and Ian admitted it himself on social media.
On one side are the dip buyers: leverage has been flushed out, BTC briefly dropped to $62,000, a four-month low—so surely it’s time for a rebound, right? On the other side is reality: The largest single liquidation was a $16.17 million Binance ETHUSDT position; ETFs are still seeing consecutive outflows, and the dollar isn’t letting up either. This isn’t a clean flush-out—the bulls are clearly not dead yet.
I’m siding with reality: A wave of liquidations isn’t a bottom signal; it’s a funeral for leverage. After every major liquidation, people say, “The market’s been cleaned out,” and then the second wave hits. A real bottom is when nobody dares to go long—not when all the longs have been liquidated.
Which side are you on? Seeing $2 billion in liquidations, do you think it’s a good time to buy the dip, or is it better to stay away from leverage and live to fight another day?
#BTC
And retail traders weren’t even the worst hit. One address, 0xc05b, was liquidated seven times in 10 hours, losing 172 BTC and 2,984 ETH—a total of $16.47 million, gone just like that. Then there’s Ian from 48 Club, who lost around $20 million today alone and over $90 million in the past 30 days. Lookonchain dug up the details, and Ian admitted it himself on social media.
On one side are the dip buyers: leverage has been flushed out, BTC briefly dropped to $62,000, a four-month low—so surely it’s time for a rebound, right? On the other side is reality: The largest single liquidation was a $16.17 million Binance ETHUSDT position; ETFs are still seeing consecutive outflows, and the dollar isn’t letting up either. This isn’t a clean flush-out—the bulls are clearly not dead yet.
I’m siding with reality: A wave of liquidations isn’t a bottom signal; it’s a funeral for leverage. After every major liquidation, people say, “The market’s been cleaned out,” and then the second wave hits. A real bottom is when nobody dares to go long—not when all the longs have been liquidated.
Which side are you on? Seeing $2 billion in liquidations, do you think it’s a good time to buy the dip, or is it better to stay away from leverage and live to fight another day?
#BTC
