1.26 billion dollars got liquidated in 24 hours, and almost all of it was longs. 💥
CoinGlass data reported by CoinDesk shows 1.26 billion dollars in leveraged crypto positions were liquidated in the last 24 hours, with long positions accounting for 1.12 billion dollars of the total. 📊 The wipeout came as Bitcoin dropped below 76,000 dollars to its lowest level in seven weeks, with the Nasdaq falling 5.5 percent and the S and P 500 dropping about 4.4 percent in the same tech led selloff, and nearly 199,000 traders were liquidated in the move. My reading is that this was a leverage flush, not a slow distribution, because the wipeout came in one violent burst, and flushes like this usually need a few days of quiet before a real bounce can hold.
Is the leverage flush finished, or is another billion waiting below 75,300 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
CoinGlass data reported by CoinDesk shows 1.26 billion dollars in leveraged crypto positions were liquidated in the last 24 hours, with long positions accounting for 1.12 billion dollars of the total. 📊 The wipeout came as Bitcoin dropped below 76,000 dollars to its lowest level in seven weeks, with the Nasdaq falling 5.5 percent and the S and P 500 dropping about 4.4 percent in the same tech led selloff, and nearly 199,000 traders were liquidated in the move. My reading is that this was a leverage flush, not a slow distribution, because the wipeout came in one violent burst, and flushes like this usually need a few days of quiet before a real bounce can hold.
Is the leverage flush finished, or is another billion waiting below 75,300 dollars? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #MarketUpdate
