🚨 CRYPTO MARKET HIT BY A LIQUIDATION WAVE
The market is going through one of the most painful days in recent months.
📉 Over the past 24 hours, more than $1 billion LONG positions have been liquidated.
According to Coinglass, on Binance a single order liquidated a LONG position for ETH/USDT worth $19.3 million.
🔴 CryptoQuant reports that in just 1 hour, across all exchanges, BTC worth more than $2.07 billion was sold via market orders.
Against the backdrop of the drop:
▪️ Crypto market capitalization temporarily fell below $2 trillion.
▪️ A whale associated with Matrixport is sitting on a floating loss of nearly $100 million on BTC and ETH positions totaling $217 million.
▪️ The “0xf79C” wallet lost $8.4 million after positions in BTC and XRP were fully liquidated.
On social media, people are already actively discussing theories that big players and whales are mass-unloading the market. However, such moves are often accompanied by exactly a cascade of liquidations, when a price drop triggers a chain reaction of forced closures.
💡 The main thing now is not to panic.
Historically, the strongest spikes in liquidations and fear often occurred near local market lows. It’s still too early to talk about a reversal, but the scale of capitulation has already reached extremely high levels.
#bitcoin $BTC
The market is going through one of the most painful days in recent months.
📉 Over the past 24 hours, more than $1 billion LONG positions have been liquidated.
According to Coinglass, on Binance a single order liquidated a LONG position for ETH/USDT worth $19.3 million.
🔴 CryptoQuant reports that in just 1 hour, across all exchanges, BTC worth more than $2.07 billion was sold via market orders.
Against the backdrop of the drop:
▪️ Crypto market capitalization temporarily fell below $2 trillion.
▪️ A whale associated with Matrixport is sitting on a floating loss of nearly $100 million on BTC and ETH positions totaling $217 million.
▪️ The “0xf79C” wallet lost $8.4 million after positions in BTC and XRP were fully liquidated.
On social media, people are already actively discussing theories that big players and whales are mass-unloading the market. However, such moves are often accompanied by exactly a cascade of liquidations, when a price drop triggers a chain reaction of forced closures.
💡 The main thing now is not to panic.
Historically, the strongest spikes in liquidations and fear often occurred near local market lows. It’s still too early to talk about a reversal, but the scale of capitulation has already reached extremely high levels.
#bitcoin $BTC