$2 Billion Wiped Out in 24 Hours — Leverage Just Got Flushed
Bitcoin crashed to 62,006 — its lowest since July 14 — before bouncing back to 64,494 (Binance spot, 11:59 PKT).
CoinGlass data shows about $2 billion in crypto liquidations in 24 hours, with more than 320,000 traders wiped out. Longs made up the vast majority — $774 million in Bitcoin alone, plus $488 million in Ether.
US spot Bitcoin ETFs have now seen almost $3 billion in outflows since Oct 30, and BTC is down about 25% since Oct 21.
This is what over-leveraged longs look like when they unwind all at once — the flush clears weak hands, but it also shows how fast a crowded trade can turn.
Is this the capitulation bottom, or just the first flush before a deeper drop?
Not financial advice. DYOR.
#CryptoSelloffTriggersMultipleWhaleLiquidations
Bitcoin crashed to 62,006 — its lowest since July 14 — before bouncing back to 64,494 (Binance spot, 11:59 PKT).
CoinGlass data shows about $2 billion in crypto liquidations in 24 hours, with more than 320,000 traders wiped out. Longs made up the vast majority — $774 million in Bitcoin alone, plus $488 million in Ether.
US spot Bitcoin ETFs have now seen almost $3 billion in outflows since Oct 30, and BTC is down about 25% since Oct 21.
This is what over-leveraged longs look like when they unwind all at once — the flush clears weak hands, but it also shows how fast a crowded trade can turn.
Is this the capitulation bottom, or just the first flush before a deeper drop?
Not financial advice. DYOR.
#CryptoSelloffTriggersMultipleWhaleLiquidations