about $400M in crypto longs got liquidated in one hour this morning.
bitcoin dropped roughly $2,000 in 20 minutes and slipped under $84K. that was all it took.
the part i keep looking at: $ETH longs took the bigger hit, about $155M vs $116M for $BTC, per CoinGlass. the biggest single wipeout was a $26.6M ETH long on Binance.
spot holders barely felt it. BTC is down under 2% on the day.
and it hardly touched the leverage. open interest is still around $150B, so this flush cleared roughly 0.3% of it.
my take: a small dip only turns into a trapdoor when this much borrowed money is stacked on one side. if you're in spot, mornings like this are mostly noise.
are you trading with leverage right now, or sitting this one out in spot?
$BTC $ETH
#Liquidations #Bitcoin #CryptoMarket
NFA. DYOR.
bitcoin dropped roughly $2,000 in 20 minutes and slipped under $84K. that was all it took.
the part i keep looking at: $ETH longs took the bigger hit, about $155M vs $116M for $BTC, per CoinGlass. the biggest single wipeout was a $26.6M ETH long on Binance.
spot holders barely felt it. BTC is down under 2% on the day.
and it hardly touched the leverage. open interest is still around $150B, so this flush cleared roughly 0.3% of it.
my take: a small dip only turns into a trapdoor when this much borrowed money is stacked on one side. if you're in spot, mornings like this are mostly noise.
are you trading with leverage right now, or sitting this one out in spot?
$BTC $ETH
#Liquidations #Bitcoin #CryptoMarket
NFA. DYOR.
