BTC dumped nearly $2,000 in 20 minutes and tagged the low $83,000s. CoinGlass shows about $555M liquidated in 24 hours — $487M of that was longs. One hour alone wiped roughly $400M+.
Twist: $ETH took the bigger hit than $BTC . ETH longs ~$155M. BTC longs ~$116M. Open interest only dipped ~2.5% on a $150B base. Most leverage is still in the book.
This looks like a positioning flush, not a full reset. Fed minutes land today. Yields and ETF flow still cap the bounce. Spot bids under $84k decide if this was a wick or the start of round two.
$SOL and majors rode the same cascade. Do not chase the first green candle.
Twist: $ETH took the bigger hit than $BTC . ETH longs ~$155M. BTC longs ~$116M. Open interest only dipped ~2.5% on a $150B base. Most leverage is still in the book.
This looks like a positioning flush, not a full reset. Fed minutes land today. Yields and ETF flow still cap the bounce. Spot bids under $84k decide if this was a wick or the start of round two.
$SOL and majors rode the same cascade. Do not chase the first green candle.