Ether took the bigger hit today. $253M in ETH liquidations in 24h, more than Bitcoin's $200.5M, even though ETH's open interest is only half the size of BTC's (via CoinGlass).
The tell is in the OI, not the candle: ETH open interest fell 3.6% against just a 1.7% price drop, while BTC's OI barely moved (-0.2%) on a similar-sized decline. Leveraged ETH traders de-risked way faster than the price action justified, which is usually a sign the thinner book got squeezed first in a broad CPI-driven flush.
85% of today's BTC liquidations were longs too, so this wasn't a two-sided shakeout. It's the same crowd getting hit on both books.
Which market are you watching for the next leg, the one that already de-levered or the one that hasn't yet?
#Bitcoin #Ethereum #TradingSignals #TokenBot
$BTC $ETH $TBOT
tokenbot.com
The tell is in the OI, not the candle: ETH open interest fell 3.6% against just a 1.7% price drop, while BTC's OI barely moved (-0.2%) on a similar-sized decline. Leveraged ETH traders de-risked way faster than the price action justified, which is usually a sign the thinner book got squeezed first in a broad CPI-driven flush.
85% of today's BTC liquidations were longs too, so this wasn't a two-sided shakeout. It's the same crowd getting hit on both books.
Which market are you watching for the next leg, the one that already de-levered or the one that hasn't yet?
#Bitcoin #Ethereum #TradingSignals #TokenBot
$BTC $ETH $TBOT
tokenbot.com
