Crypto liquidations jumped 288 percent to 725 million dollars in 24 hours, and longs took almost all of the pain. 💥
CoinGlass figures cited by CoinDesk put total crypto futures liquidations at 725 million dollars over 24 hours, with trading volume up 24 percent to 204.8 billion dollars, and about 115,600 traders saw their positions forcibly closed. 📉 Long positions accounted for about 578 million dollars, nearly 79 percent of all liquidations, Bitcoin accounted for 200.5 million dollars of the total with 85 percent of them longs, while Ether liquidations were even larger at 253 million dollars even though its open interest is about half the size. My reading is that this was a leverage flush, not an orderly selloff, because a 288 percent jump in liquidations after a hot CPI print means too many traders were long into the data, and a flush this size often clears the weak hands before the next real move.
Were you caught long into the CPI print, or sitting in cash waiting for the flush? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidations
CoinGlass figures cited by CoinDesk put total crypto futures liquidations at 725 million dollars over 24 hours, with trading volume up 24 percent to 204.8 billion dollars, and about 115,600 traders saw their positions forcibly closed. 📉 Long positions accounted for about 578 million dollars, nearly 79 percent of all liquidations, Bitcoin accounted for 200.5 million dollars of the total with 85 percent of them longs, while Ether liquidations were even larger at 253 million dollars even though its open interest is about half the size. My reading is that this was a leverage flush, not an orderly selloff, because a 288 percent jump in liquidations after a hot CPI print means too many traders were long into the data, and a flush this size often clears the weak hands before the next real move.
Were you caught long into the CPI print, or sitting in cash waiting for the flush? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Liquidations
