$BTW fell 45% in 22 minutes overnight. Here's who got liquidated, by leverage.
BTWUSDT perp, Sep 26 (UTC), last price:
• 01:32 top: 1.3781
• 01:54 bottom: 0.7528
• Now: ~0.93, still -32% from the top
I ran a long from the mark-price top (1.3647) through the 1-minute candles. Rough liquidation points, ignoring maintenance margin, which only makes them worse:
🔴 20x (−5%): gone at 01:34, 2 minutes in
🔴 10x (−10%): gone at 01:34, same candle
🔴 5x (−20%): gone at 01:44
🔴 3x (−33%): gone at 01:48
🟡 2x (−50%): survived the −43% mark wick… and is sitting at about −63% of margin
So the "safe" 2x trader won the prize of not being liquidated. Congrats, you get to hold the bag. 🎒
The math I keep relearning the hard way (my last ZEC short got liquidated on a wick while price closed on my side):
→ Liquidation distance ≈ 1 / leverage
→ A coin's worst 1-hour move is your real stop, not its average daily range
→ BTW's 24h range was 83%. At that volatility, 5x isn't "moderate". It's a coin flip with extra fees.
My rule now: leverage ≤ 1 / (worst recent candle × 2). For BTW today that works out to about 1x. Just spot with extra steps.
What's the biggest wick that's ever taken you out, and at what leverage? 👇
#RiskManagement #CryptoFutures
$BTW
BTWUSDT perp, Sep 26 (UTC), last price:
• 01:32 top: 1.3781
• 01:54 bottom: 0.7528
• Now: ~0.93, still -32% from the top
I ran a long from the mark-price top (1.3647) through the 1-minute candles. Rough liquidation points, ignoring maintenance margin, which only makes them worse:
🔴 20x (−5%): gone at 01:34, 2 minutes in
🔴 10x (−10%): gone at 01:34, same candle
🔴 5x (−20%): gone at 01:44
🔴 3x (−33%): gone at 01:48
🟡 2x (−50%): survived the −43% mark wick… and is sitting at about −63% of margin
So the "safe" 2x trader won the prize of not being liquidated. Congrats, you get to hold the bag. 🎒
The math I keep relearning the hard way (my last ZEC short got liquidated on a wick while price closed on my side):
→ Liquidation distance ≈ 1 / leverage
→ A coin's worst 1-hour move is your real stop, not its average daily range
→ BTW's 24h range was 83%. At that volatility, 5x isn't "moderate". It's a coin flip with extra fees.
My rule now: leverage ≤ 1 / (worst recent candle × 2). For BTW today that works out to about 1x. Just spot with extra steps.
What's the biggest wick that's ever taken you out, and at what leverage? 👇
#RiskManagement #CryptoFutures
$BTW