Bears continue to exert pressure
Post
老腊肉-kevin
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#加密市场大幅回调，多名巨鲸遭遇清算 On-chain data has laid bare this downturn: BTC slid all the way from $80,000 to $63,000, and ETH had it even worse, dipping to $1,731.
This isn't some whale dumping on the market—it's leverage lining up to jump out the window: $1.2 billion liquidated on Thursday, $1.6 billion on Friday, and another $1.2 billion overnight. More than 90% of those positions were longs.
One guy put up $69.21 million in late August and opened $493 million worth of BTC and ETH long positions. By November 12, they had all been liquidated, leaving just $620,000 in his account. Turning $69.21 million into $620,000—is this trading, or just donating a year-end bonus to the liquidation engine?
The ETFs are seeing outflows too, with $1.282 billion in net outflows for the week, while miners are still sending coins to exchanges. With three pipes draining at once, you ask where the turnaround is? It won't come until that leverage is completely wiped out.
No buying the dip today; the bias is bearish. Wait for a rebound. In a cascade of liquidations like this, you don't “guess” where the bottom is—you “wait” for it.
If BTC rebounds to around $67,000–$68,000 and can't break higher, try a small short position, with a stop-loss above $69,000. If you're wrong, accept it; if you're right, let the profits run. ETH is correlated with BTC, so consider it only if it rebounds to around $1,850 and can't break higher. $BTC $ETH $SOL
This isn't some whale dumping on the market—it's leverage lining up to jump out the window: $1.2 billion liquidated on Thursday, $1.6 billion on Friday, and another $1.2 billion overnight. More than 90% of those positions were longs.
One guy put up $69.21 million in late August and opened $493 million worth of BTC and ETH long positions. By November 12, they had all been liquidated, leaving just $620,000 in his account. Turning $69.21 million into $620,000—is this trading, or just donating a year-end bonus to the liquidation engine?
The ETFs are seeing outflows too, with $1.282 billion in net outflows for the week, while miners are still sending coins to exchanges. With three pipes draining at once, you ask where the turnaround is? It won't come until that leverage is completely wiped out.
No buying the dip today; the bias is bearish. Wait for a rebound. In a cascade of liquidations like this, you don't “guess” where the bottom is—you “wait” for it.
If BTC rebounds to around $67,000–$68,000 and can't break higher, try a small short position, with a stop-loss above $69,000. If you're wrong, accept it; if you're right, let the profits run. ETH is correlated with BTC, so consider it only if it rebounds to around $1,850 and can't break higher. $BTC $ETH $SOL
