LONGS JUST GOT HUNTED.
$256M liquidated in 24h. 88% of it was longs — $225M gone across ~49k orders.
Binance alone cleared $174M. $BTC took $79M of the hit. $ETH took $61M. $XRP funding flipped negative while accounts stayed ~72% long.
Crowded book. Macro yields near multi-decade highs. Spot ETF outflows on the tape. Derivatives broke first.
Flush, not a funeral — until $82K fails clean and the bid disappears.
$256M liquidated in 24h. 88% of it was longs — $225M gone across ~49k orders.
Binance alone cleared $174M. $BTC took $79M of the hit. $ETH took $61M. $XRP funding flipped negative while accounts stayed ~72% long.
Crowded book. Macro yields near multi-decade highs. Spot ETF outflows on the tape. Derivatives broke first.
Flush, not a funeral — until $82K fails clean and the bid disappears.