Longs took the pain this week.
CoinGlass data cited by Bifu showed about $1.49 billion in positions liquidated over 24 hours around Oct 30, and longs were roughly $1.29 billion of that, about 86.8%.
$BTC briefly touched $76,400 before steadying near $77K, while $ETH slipped under $2,200 at the lows.
My take: when leverage is that lopsided, the move is often amplified by forced closes, not just news. Saturday's calmer tape suggests the flush may be mostly done, but that's only a read.
Are you cutting leverage here, or waiting for a clearer level on $BTC before touching it?
#Bitcoin #Liquidations #CryptoMarket
Not financial advice.
CoinGlass data cited by Bifu showed about $1.49 billion in positions liquidated over 24 hours around Oct 30, and longs were roughly $1.29 billion of that, about 86.8%.
$BTC briefly touched $76,400 before steadying near $77K, while $ETH slipped under $2,200 at the lows.
My take: when leverage is that lopsided, the move is often amplified by forced closes, not just news. Saturday's calmer tape suggests the flush may be mostly done, but that's only a read.
Are you cutting leverage here, or waiting for a clearer level on $BTC before touching it?
#Bitcoin #Liquidations #CryptoMarket
Not financial advice.