LONGS GOT HUNTED.
$547M–$700M wiped in 24h. Almost all of it longs. Biggest single print: ~$26.6M on Binance ETHUSDC.
$ETH took the heavier hit than $BTC. Oil ripped past $101 after tanker attacks in the Strait of Hormuz. Dollar and yields up. Risk got slapped.
Funding on majors flipped slightly negative. Shorts are paying longs. Open interest barely moved. This looks like a leverage flush, not a fresh trend. Yet.
Uptober is on thin ice. DeFi and memes dumped harder than the majors. $SOL rode the same wave down.
Hold $ETH near $2,550–$2,600 or the cascade is not finished.
$547M–$700M wiped in 24h. Almost all of it longs. Biggest single print: ~$26.6M on Binance ETHUSDC.
$ETH took the heavier hit than $BTC. Oil ripped past $101 after tanker attacks in the Strait of Hormuz. Dollar and yields up. Risk got slapped.
Funding on majors flipped slightly negative. Shorts are paying longs. Open interest barely moved. This looks like a leverage flush, not a fresh trend. Yet.
Uptober is on thin ice. DeFi and memes dumped harder than the majors. $SOL rode the same wave down.
Hold $ETH near $2,550–$2,600 or the cascade is not finished.