$873 Million Liquidated in Just 4 Hours And Bulls Took the Biggest Hit!
Crypto traders just had a brutal few hours.
$873 million in futures positions were wiped out in 4 hours.
* $793 million came from long positions.
* $79.94 million came from short positions.
* Around 203,500 traders were liquidated in the past 24 hours.
* The biggest single liquidation was $10.94 million on Binance ETH/USDT.
Meanwhile, Bitcoin fell to $75,558 and is now around $76,500. ETH dropped to approximately $2,268.
My take: Almost 90% of the recent liquidations came from traders betting on higher prices. A reminder that leverage can turn a normal market drop into a very expensive lesson.
The market didn’t just correct. It cleaned out a lot of overconfident bulls.
#cryptofirst21
Crypto traders just had a brutal few hours.
$873 million in futures positions were wiped out in 4 hours.
* $793 million came from long positions.
* $79.94 million came from short positions.
* Around 203,500 traders were liquidated in the past 24 hours.
* The biggest single liquidation was $10.94 million on Binance ETH/USDT.
Meanwhile, Bitcoin fell to $75,558 and is now around $76,500. ETH dropped to approximately $2,268.
My take: Almost 90% of the recent liquidations came from traders betting on higher prices. A reminder that leverage can turn a normal market drop into a very expensive lesson.
The market didn’t just correct. It cleaned out a lot of overconfident bulls.
#cryptofirst21
