Longs got liquidated first at $62,006, then shorts at $65,000—neither side made it through the night.
Bitcoin hit a low of $62,006 early Sunday. Around $2 billion in positions were liquidated across the crypto market in 24 hours, over 90% of them longs, wiping out 329,000 traders. An hour-long rebound then liquidated another roughly $135 million in positions, including $121 million in shorts—nearly 90% of the total. Longs first, then shorts, with just 80 minutes in between.
I don’t think this was a reversal; it was leverage being flushed out on both sides. Spot ETFs still saw $185 million in net outflows on Friday, with no fresh money coming into the market. Price moves are driven entirely by futures traders liquidating each other. The Fear Index is at 13, still in extreme fear territory.
There are less than 12 hours left until the weekly close. Last Sunday’s close was $74,740; the current price is $65,472. That puts this week’s loss at 12.4%, with a sixth consecutive weekly decline all but locked in. Whether Bitcoin holds $65,000 at the weekly close or falls back to $63,000 is tonight’s only real suspense.
Which side are you on: would a weekly close above $65,000 count as stabilization, or do we have to wait for ETF flows to turn positive on Monday before calling the flush-out complete?
$BTC
#CryptoSelloffTriggersMultipleWhaleLiquidations #WhatWillDriveCryptoandStocks’NextRebound?
Bitcoin hit a low of $62,006 early Sunday. Around $2 billion in positions were liquidated across the crypto market in 24 hours, over 90% of them longs, wiping out 329,000 traders. An hour-long rebound then liquidated another roughly $135 million in positions, including $121 million in shorts—nearly 90% of the total. Longs first, then shorts, with just 80 minutes in between.
I don’t think this was a reversal; it was leverage being flushed out on both sides. Spot ETFs still saw $185 million in net outflows on Friday, with no fresh money coming into the market. Price moves are driven entirely by futures traders liquidating each other. The Fear Index is at 13, still in extreme fear territory.
There are less than 12 hours left until the weekly close. Last Sunday’s close was $74,740; the current price is $65,472. That puts this week’s loss at 12.4%, with a sixth consecutive weekly decline all but locked in. Whether Bitcoin holds $65,000 at the weekly close or falls back to $63,000 is tonight’s only real suspense.
Which side are you on: would a weekly close above $65,000 count as stabilization, or do we have to wait for ETF flows to turn positive on Monday before calling the flush-out complete?
$BTC
#CryptoSelloffTriggersMultipleWhaleLiquidations #WhatWillDriveCryptoandStocks’NextRebound?
