【Longs and shorts both got wrecked: 145 million! 32,000 BTC cut loose, who is taking the bag? #美伊谈判将启动 $NVDAB 】
I just checked the Coinglass data: liquidations across the entire network reached 145 million dollars in the past 24 hours. Interestingly, short positions accounted for 87.43 million dollars, while long positions accounted for 57.9 million dollars — both sides got hit hard, which shows the market is highly divided.
BTC has been repeatedly range-trading around 63,000, with both bulls and bears betting on direction.
What’s even more worth paying attention to is on-chain data. A CryptoQuant analyst pointed out that on August 1, short-term holders (STH) sent more than 32,000 BTC to exchanges, all sold at a loss. This was one of the largest loss-selling events by short-term holders in the past 30 days.
What does this mean?
Short-term holders are cutting their losses and exiting, and coins are shifting from the hands of “conviction holders” to those with “less patience.” Historically, this kind of panic selling often appears near phased bottoms — but not always.
Also, there is another piece of news worth noting today: Strategy, the largest corporate holder of Bitcoin, hinted that it is open to increasing its dollar reserves, and the fundraising is unlikely to be used to buy BTC. One key source of demand has temporarily paused. At the same time, the progress of the US CLARITY Act has also stalled.
My view: the battle between bulls and bears is intense, on-chain data looks bearish but may be in the process of clearing out weak hands. At 63,000, both sides have reasons. I’ll stay on the sidelines and wait until the direction becomes clearer.
Are you bullish or bearish? Pick a side in the comments! Please follow along more
I just checked the Coinglass data: liquidations across the entire network reached 145 million dollars in the past 24 hours. Interestingly, short positions accounted for 87.43 million dollars, while long positions accounted for 57.9 million dollars — both sides got hit hard, which shows the market is highly divided.
BTC has been repeatedly range-trading around 63,000, with both bulls and bears betting on direction.
What’s even more worth paying attention to is on-chain data. A CryptoQuant analyst pointed out that on August 1, short-term holders (STH) sent more than 32,000 BTC to exchanges, all sold at a loss. This was one of the largest loss-selling events by short-term holders in the past 30 days.
What does this mean?
Short-term holders are cutting their losses and exiting, and coins are shifting from the hands of “conviction holders” to those with “less patience.” Historically, this kind of panic selling often appears near phased bottoms — but not always.
Also, there is another piece of news worth noting today: Strategy, the largest corporate holder of Bitcoin, hinted that it is open to increasing its dollar reserves, and the fundraising is unlikely to be used to buy BTC. One key source of demand has temporarily paused. At the same time, the progress of the US CLARITY Act has also stalled.
My view: the battle between bulls and bears is intense, on-chain data looks bearish but may be in the process of clearing out weak hands. At 63,000, both sides have reasons. I’ll stay on the sidelines and wait until the direction becomes clearer.
Are you bullish or bearish? Pick a side in the comments! Please follow along more