$ETH
đš $1.19 BILLION WIPED OUT IN 24 HOURS⊠AND ETH TOOK A SERIOUS HIT. đ
The crypto market just got a brutal reminder that leverage cuts both ways. Over $1 billion in liquidations hit long positions, while Ethereum longs faced significantly heavier pressure than Bitcoinâs.
Hereâs the damage. đ
đ„ $1.19B LIQUIDATED in 24 hours, with more than $1B coming from long positions.
đŽ ETH LIQUIDATIONS: ~$356M
đ BTC LIQUIDATIONS: ~$298M
ETH took a heavier hit despite being less than one-fifth of Bitcoinâs market size.
đ ETH: Around $2,490, down more than 3%.
đ BTC: Dropped to ~$80.4K before recovering toward $82K.
đŻ KEY LEVELS TO WATCH:
âą BTC needs to reclaim $83K, while $80.4K remains a key downside level.
âą ETH needs to defend the $2,400â$2,500 zone to give bulls a reason to believe in a recovery.
Hawkish Fed minutes and headlines surrounding Iran added to market uncertainty, triggering another wave of volatility.
đ NEXT MAJOR CATALYST: US CPI ON OCTOBER 14.
Hereâs the real question: Has the market finally flushed out excessive ETH leverage, or are overleveraged traders about to get another painful lesson? đ
Iâm watching the $2,400â$2,500 zone before trusting any ETH bounce.
The leverage may be getting wiped out, but is the selling pressure actually over? đ
DYOR. Manage risk. NFA.
$MAGIC
$BAT
#eth
đš $1.19 BILLION WIPED OUT IN 24 HOURS⊠AND ETH TOOK A SERIOUS HIT. đ
The crypto market just got a brutal reminder that leverage cuts both ways. Over $1 billion in liquidations hit long positions, while Ethereum longs faced significantly heavier pressure than Bitcoinâs.
Hereâs the damage. đ
đ„ $1.19B LIQUIDATED in 24 hours, with more than $1B coming from long positions.
đŽ ETH LIQUIDATIONS: ~$356M
đ BTC LIQUIDATIONS: ~$298M
ETH took a heavier hit despite being less than one-fifth of Bitcoinâs market size.
đ ETH: Around $2,490, down more than 3%.
đ BTC: Dropped to ~$80.4K before recovering toward $82K.
đŻ KEY LEVELS TO WATCH:
âą BTC needs to reclaim $83K, while $80.4K remains a key downside level.
âą ETH needs to defend the $2,400â$2,500 zone to give bulls a reason to believe in a recovery.
Hawkish Fed minutes and headlines surrounding Iran added to market uncertainty, triggering another wave of volatility.
đ NEXT MAJOR CATALYST: US CPI ON OCTOBER 14.
Hereâs the real question: Has the market finally flushed out excessive ETH leverage, or are overleveraged traders about to get another painful lesson? đ
Iâm watching the $2,400â$2,500 zone before trusting any ETH bounce.
The leverage may be getting wiped out, but is the selling pressure actually over? đ
DYOR. Manage risk. NFA.
$MAGIC
$BAT
#eth