Ether longs just took a sharp round of forced closures. Over the last 30 minutes, exchanges shut $17.3M of $ETH long positions across the major venues. These were borrowed money bets on a higher price, closed automatically once the collateral behind them no longer covered the move.
The other side got off lightly. Bets on a lower price lost $2.3M over the same window, so the flush ran overwhelmingly against buyers.
The figures come from the raw liquidation streams of the major venues.
The other side got off lightly. Bets on a lower price lost $2.3M over the same window, so the flush ran overwhelmingly against buyers.
The figures come from the raw liquidation streams of the major venues.
