🔴 A single-hour leverage flush wiped out over $400 million in crypto longs ⚡ as Bitcoin dipped to $83,800. Ethereum bore the brunt of the shakeout with $155 million in cleared longs. With global open interest still elevated at $150 billion 📉, the market cleared only a fraction of its total leverage overhang. Spot buying must step up to prevent secondary sell-offs.

With over $150 billion in open interest still outstanding, will spot buyers step in or are we due for another liquidation cascade? 👇

#bitcoin #ethereum #liquidations #derivatives #leverage