News😮🚨
🔻 Liquidations of more than 430 million dollars during the past 24 hours, with long positions making up 73%
During the past 24 hours, the market witnessed a wave of widespread liquidations that dealt a heavy blow to the market.
🔸 The total liquidation losses reached 430.52 million dollars across the market as a whole, with accounts of 142,219 traders liquidated during these fluctuations. The largest single liquidation order of the day was the ETH-USD position valued at 6.91 million dollars.
🔸 Long positions incurred the largest losses of 315.03 million dollars, which is approximately 73% of the total liquidation, while short positions lost around 115.49 million dollars. This confirms the occurrence of a long squeeze.
🔸 Interestingly, it was Ethereum, not Bitcoin, that was at the center of this liquidation.
🔸 The fact that liquidations of $ETH are 1.5 times higher than $BTC is unusual, indicating that speculative capital with high leverage is heavily concentrated in the Ethereum ecosystem.
❓ Were you surprised that Ethereum liquidations surpassed Bitcoin liquidations?
Is this evidence that Ethereum bulls were overly greedy, or is it an opportunity to accumulate at good prices after margin traders left the market?
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