$392.2M in $BTC and $ETH longs just got wiped out on Binance Futures in 24 hours.
What stands out is how lopsided the pain was. Even though Bitcoin's market cap is roughly 6x larger than Ethereum's, ETH traders managed to lose almost the exact same dollar amount as BTC traders:
- Binance $BTC Perps: $198.3M longs liquidated vs. $16.5M shorts (92.3% long skew)
- Binance $ETH Perps: $193.9M longs liquidated vs. $7.4M shorts (96.3% long skew)
At 20:00 UTC alone, $97.2M in longs were force-closed on Binance in a single hour ($73.3M of it in ETH), including one $16.17M ETHUSDT whale position liquidated at $1,792.88.
Trying to catch a falling knife with high leverage when 96% of the boat is already leaning the same way rarely ends well.
#Bitcoin #Ethereum #CryptoMarket
What stands out is how lopsided the pain was. Even though Bitcoin's market cap is roughly 6x larger than Ethereum's, ETH traders managed to lose almost the exact same dollar amount as BTC traders:
- Binance $BTC Perps: $198.3M longs liquidated vs. $16.5M shorts (92.3% long skew)
- Binance $ETH Perps: $193.9M longs liquidated vs. $7.4M shorts (96.3% long skew)
At 20:00 UTC alone, $97.2M in longs were force-closed on Binance in a single hour ($73.3M of it in ETH), including one $16.17M ETHUSDT whale position liquidated at $1,792.88.
Trying to catch a falling knife with high leverage when 96% of the boat is already leaning the same way rarely ends well.
#Bitcoin #Ethereum #CryptoMarket
