A $493 million long position, with just $620,000 left in the end—this was the most brutal bill of the crash
On November 15, $BTC briefly plunged to $62,006, and $ETH to $1,711—both at their lowest levels in months
Over 24 hours, $2.123 billion was liquidated across the market, wiping out 336,700 traders; 90% of them were long positions
BTC alone accounted for $820 million in liquidations of long positions
The whales’ bills were even more eye-opening
A whale’s entire $493 million BTC+ETH long position, opened at the end of August, was liquidated. Of the $69.21 million in initial capital, only $620,000 remained—a 99% loss
“Set 10 big goals first” was still up $110 million in early October; now just $17.76 million remains, giving back $93 million
BNB whale 48Clublan lost $91.36 million in 30 days
A 20x leveraged long position held by a Bit-affiliated entity is still sitting on $50.75 million in unrealized losses
The trigger is clear
BTC fell below the 200-day moving average, around $73,000, setting off stop-losses and forced liquidations
Liquidations pushed prices lower, and lower prices triggered more liquidations
This wasn’t a hack—it was the leverage structure collapsing under its own weight
To find the bottom, look at the liquidation map, not support lines
Glassnode says liquidation positions are highly concentrated between $59,500 and $62,600
Today’s low was $62,006, right at the upper edge of that range
The real test isn’t today—it’s $59,500
I’ll admit I got this one wrong
On November 9, I wrote here, “Betting on a green weekly close this week”
Instead, BTC fell from $74,851 to $64,457 this week, down 13.89%
I got it wrong, and I won’t make excuses. The lesson: a green weekly close depended on ETF flows turning positive and funding rates falling. I placed my bet without waiting for either condition to be met
Here’s a method you can use next time
To judge how far a sharp sell-off might go, first look at liquidation clusters—not just support levels
Prices aren’t held up by support lines; they’re held up by the people who’ve already been liquidated
There are also three waves: first, forced liquidations; second, new shorts entering; and only in the third wave does real buying emerge
We’re probably in the second wave now
The broader context matters too
From October 30 to November 13, U.S. spot Bitcoin ETFs saw nearly $3 billion in net outflows, with redemptions for seven consecutive trading days
Stablecoin supply shrank by $17 billion over the past month—there’s less money in the market
At this level, would you dare to buy the dip?
I’m guessing $59,500 gets tested once. Would you step in?
#加密市场大幅回调多名巨鲸遭遇清算
On November 15, $BTC briefly plunged to $62,006, and $ETH to $1,711—both at their lowest levels in months
Over 24 hours, $2.123 billion was liquidated across the market, wiping out 336,700 traders; 90% of them were long positions
BTC alone accounted for $820 million in liquidations of long positions
The whales’ bills were even more eye-opening
A whale’s entire $493 million BTC+ETH long position, opened at the end of August, was liquidated. Of the $69.21 million in initial capital, only $620,000 remained—a 99% loss
“Set 10 big goals first” was still up $110 million in early October; now just $17.76 million remains, giving back $93 million
BNB whale 48Clublan lost $91.36 million in 30 days
A 20x leveraged long position held by a Bit-affiliated entity is still sitting on $50.75 million in unrealized losses
The trigger is clear
BTC fell below the 200-day moving average, around $73,000, setting off stop-losses and forced liquidations
Liquidations pushed prices lower, and lower prices triggered more liquidations
This wasn’t a hack—it was the leverage structure collapsing under its own weight
To find the bottom, look at the liquidation map, not support lines
Glassnode says liquidation positions are highly concentrated between $59,500 and $62,600
Today’s low was $62,006, right at the upper edge of that range
The real test isn’t today—it’s $59,500
I’ll admit I got this one wrong
On November 9, I wrote here, “Betting on a green weekly close this week”
Instead, BTC fell from $74,851 to $64,457 this week, down 13.89%
I got it wrong, and I won’t make excuses. The lesson: a green weekly close depended on ETF flows turning positive and funding rates falling. I placed my bet without waiting for either condition to be met
Here’s a method you can use next time
To judge how far a sharp sell-off might go, first look at liquidation clusters—not just support levels
Prices aren’t held up by support lines; they’re held up by the people who’ve already been liquidated
There are also three waves: first, forced liquidations; second, new shorts entering; and only in the third wave does real buying emerge
We’re probably in the second wave now
The broader context matters too
From October 30 to November 13, U.S. spot Bitcoin ETFs saw nearly $3 billion in net outflows, with redemptions for seven consecutive trading days
Stablecoin supply shrank by $17 billion over the past month—there’s less money in the market
At this level, would you dare to buy the dip?
I’m guessing $59,500 gets tested once. Would you step in?
#加密市场大幅回调多名巨鲸遭遇清算
