Another $1 billion wiped out in 24 hours, and 93% of it was longs. I've watched enough of these days to know the number matters less than what's underneath it.
Per Coin Bureau, about $932M of the $1.0B came from traders betting on a bounce, nearly 194K accounts. Two days ago the same tally was $1.62B. On Binance, BTC is now near $65.5K, down 5% on the day, and ETH sits around $1,830, down 6%.
Here's what keeps bugging me. Liquidations are shrinking, yet price keeps making lower lows. In real capitulations the forced selling gets bigger, not smaller, because everyone leveraged gets flushed in one ugly candle. This looks more like a slow bleed where longs get picked off in batches. And Binance BTC funding is still slightly positive, so longs are still paying to hold. Not exactly a washed-out crowd.
In 2018 and 2022 the final lows came when funding turned negative and nobody wanted leverage anymore, not when a headline looked scary.
What I'm watching:
• funding flipping negative for a few days
• liquidations spiking bigger than $1.6B on a down move
• a daily close back above $68K
Do you think we've already seen the flush, or is this just the warm-up?
$BTC $ETH
#Bitcoin #Liquidations #Ethereum #CryptoMarket
Not financial advice. DYOR.
Per Coin Bureau, about $932M of the $1.0B came from traders betting on a bounce, nearly 194K accounts. Two days ago the same tally was $1.62B. On Binance, BTC is now near $65.5K, down 5% on the day, and ETH sits around $1,830, down 6%.
Here's what keeps bugging me. Liquidations are shrinking, yet price keeps making lower lows. In real capitulations the forced selling gets bigger, not smaller, because everyone leveraged gets flushed in one ugly candle. This looks more like a slow bleed where longs get picked off in batches. And Binance BTC funding is still slightly positive, so longs are still paying to hold. Not exactly a washed-out crowd.
In 2018 and 2022 the final lows came when funding turned negative and nobody wanted leverage anymore, not when a headline looked scary.
What I'm watching:
• funding flipping negative for a few days
• liquidations spiking bigger than $1.6B on a down move
• a daily close back above $68K
Do you think we've already seen the flush, or is this just the warm-up?
$BTC $ETH
#Bitcoin #Liquidations #Ethereum #CryptoMarket
Not financial advice. DYOR.
