Six hundred and thirty two million dollars of crypto positions were liquidated after CPI, and longs took almost all of it. 💥
CoinGlass data reported by news.bitcoin.com puts total crypto liquidations above 632 million dollars, including 511 million dollars in long positions, as Bitcoin fell below 73,000 dollars and Ethereum under 2,050 dollars. 📉 That is a much bigger flush than the 200 million dollars wiped out in the first five minutes after the print, which means the selling kept going through the evening as leveraged longs gave up one level after another. My reading is that the market was leaning long into CPI and the hot print punished that lean all day, which clears leverage and can set up a cleaner move later, but only after the forced selling stops.
Were you caught long into CPI, or did you wait for the print before trading? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidations
CoinGlass data reported by news.bitcoin.com puts total crypto liquidations above 632 million dollars, including 511 million dollars in long positions, as Bitcoin fell below 73,000 dollars and Ethereum under 2,050 dollars. 📉 That is a much bigger flush than the 200 million dollars wiped out in the first five minutes after the print, which means the selling kept going through the evening as leveraged longs gave up one level after another. My reading is that the market was leaning long into CPI and the hot print punished that lean all day, which clears leverage and can set up a cleaner move later, but only after the forced selling stops.
Were you caught long into CPI, or did you wait for the print before trading? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidations
