$1.9B in liquidations over the past 24 hours, including $1.8B in longs — meaning 93% of the losses came from long traders. Only $124M came from shorts. $BTC saw the biggest losses, around $690M. More than 329,000 traders were liquidated in a single day.
The situation is worse than yesterday. At the same time yesterday, 24-hour liquidations were $651M; today they’re $1.9B — nearly three times as much. In just the last 4 hours, $925M vanished, almost all of it from longs. $BTC $69,000 has been breached, and the price is now near $63,760, down 6% over the past 24 hours. $ETH Around $1,735, down 9%.
Fear & Greed is now at 10: extreme fear. Yesterday it was 13, a week ago it was 28, and a month ago it was 63. The market has been in the extreme fear zone for three consecutive days.
My take: fear is now extreme, and with 93% of liquidations coming from longs, almost everyone betting on prices going up has been wiped out. Such extreme fear is usually a sign that the market is nearing a bottom, but it’s too soon to call one. $BTC needs to get back above $69,000 first, otherwise there’s room to fall further.
Do you think this fear signals a bottom, or will we go even lower?
Not a buy or sell recommendation, just market news. This is not financial advice.
#Bitcoin #Ethereum #Crypto
The situation is worse than yesterday. At the same time yesterday, 24-hour liquidations were $651M; today they’re $1.9B — nearly three times as much. In just the last 4 hours, $925M vanished, almost all of it from longs. $BTC $69,000 has been breached, and the price is now near $63,760, down 6% over the past 24 hours. $ETH Around $1,735, down 9%.
Fear & Greed is now at 10: extreme fear. Yesterday it was 13, a week ago it was 28, and a month ago it was 63. The market has been in the extreme fear zone for three consecutive days.
My take: fear is now extreme, and with 93% of liquidations coming from longs, almost everyone betting on prices going up has been wiped out. Such extreme fear is usually a sign that the market is nearing a bottom, but it’s too soon to call one. $BTC needs to get back above $69,000 first, otherwise there’s room to fall further.
Do you think this fear signals a bottom, or will we go even lower?
Not a buy or sell recommendation, just market news. This is not financial advice.
#Bitcoin #Ethereum #Crypto
