In the crypto world, what can happen in a day might take a quarter to digest in traditional financial markets. In the past 24 hours, the cryptocurrency market seemed to press the 'high-speed' key—liquidation waves swept through, ETH, BTC, BNB and other mainstream coins displayed their prowess amidst fluctuations, whales were secretly positioning, miners' intentions were difficult to gauge, and the PUMP token bubble burst... What does all this mean? Is the bull market just a temporary brake, or has it reached its end? 🤔
Don't blink, let me take you through this '24-hour life-and-death speed in the crypto world'!
🚨 The liquidation wave is coming: The nightmare of leveraged traders, who got liquidated?
In the futures market, leverage can amplify profits but also amplify pain. And this time, the pain is spreading. According to the latest data:
In the past 24 hours, a total of 131,236 traders were liquidated, with a liquidation amount of up to $393 million!
Long positions liquidated: $256 million
Short positions liquidated: $137 million
The three most severely affected coins are none other than ETH (Ethereum), BTC (Bitcoin), and SOL (Solana).
🔥 ETH bulls were bloodied in the past 24 hours, with the total liquidation amount reaching $132 million, of which over 71% of liquidations came from long positions. In other words, those who were bullish on ETH and bet on the rise suffered heavy blows from the market's sudden pullback, leading to forced liquidation of their positions, a classic 'cutting leeks' situation.
💥 BTC shorts were caught off guard; in contrast, the liquidation amount for BTC was about $47.62 million, with shorts accounting for nearly 60%. Many bet that BTC would fall, but when the market rebounded, the short positions were forced to buy back at a high price, resulting in significant losses, and the market's short sentiment was severely hit.
⚔️ SOL and ETH are in similar situations; SOL's liquidation amount is close to $28.45 million, with long positions accounting for over 61%. SOL's longs were also severely harvested by the market pullback, indicating that behind this breakout, the leverage pressure is enormous, and not every spike can continue the upward trend.
In summary: Market sentiment is highly speculative, and once the trend reverses, leveraged long or short positions will step on liquidation mines, positions will be forcibly closed, resulting in significant losses. Do not play with leverage too aggressively in trading, the risks are indeed very high! ⚠️
🔎 Multiple triggering points behind the liquidation
What exactly triggered this wave of chain liquidations?
High volatility: Influenced by macro news and institutional movements, prices fluctuate sharply, triggering stop losses and liquidations.
High leverage operations are common: In a market where 100x leverage prevails, even small fluctuations can trigger 'liquidation mines'.
Chain reaction: A large position being liquidated often triggers further market buying and selling, exacerbating market fluctuations.
Technical support/resistance levels are breached: When key price levels are pierced, programmed stop losses + liquidations trigger en masse, leading to a 'crash' in the market.
This also reminds the market again that risk management is not an elective course, it is the foundation of survival!
📉 Profit-taking vs. bullish positioning: Who is unloading? Who is adding positions?
We notice a 'contradictory' market phenomenon:
So the question is: is this wave of adjustment the top? Or is it a build-up after a major reshuffle?
🧠 From the data on BTC: The adjustment may not be over, and the rebound could be just around the corner
Bitcoin is currently still fluctuating at a high level, encountering short-term selling pressure around $123,000, with institutions selling over $131.4 million BTC in the last 24 hours, ending a 12-day net buying spree.
But don’t be too pessimistic:
Everything still depends on: will whales and miners join forces to pull up prices? And can the market break through the current resistance range?
🔥 ETH: Price fluctuates at a high level, still with potential for an upward trend!
Now let's take a look at our popularity king—Ethereum!
ETH has recently surged strongly after breaking $3,720, and once approached $3,860, but then pulled back to around $3,650 for consolidation.
📊 Key support/resistance levels reference:
Support levels: $3,650 / $3,620 / $3,550
Resistance levels: $3,770 / $3,850 / $3,920
If it can stabilize above $3,850, it is expected to challenge the $4,000~$4,200 area
🔧 MACD momentum weakens, RSI stabilizes above 50, indicating that short-term capital flow is still neutral to bullish.
Based on the current ETH ecosystem and institutional movements, ETH is likely still in a 'building up' phase rather than a 'pullback'.
🚀 BNB breaks $800, becoming a prominent player in the crypto circle!
Binance's platform token BNB once surged to a historical high of $800 (current price $796), starting from $0.1 in 2017, skyrocketing 8000 times, becoming a 'mythical token' in the crypto world!
Why is BNB so strong this time? It's simple 👇
The Binance ecosystem is fully bursting: covering various sectors including exchanges, public chains (BNB Chain), DeFi, NFTs, GameFi, etc., BNB is the 'pass' for all products.
The deflationary model is super strong: BNB's total supply target is only 100 million, achieved through a quarterly burning mechanism. As supply decreases and demand increases, prices naturally soar.
The eighth anniversary event + market sentiment boost: adding community engagement and signaling effects, Binance's brand and influence have completely amplified this round of sentiment.
📉 RSI is approaching 70, and there is indeed short-term pressure for a pullback, with key support at $620. But looking long-term, many are calling out a 'target price of $2000', and rumors have it:
🧊 Cold water is coming: PUMP token breaks the issue price, retail enthusiasm cools down?
Just as the market went crazy, the popular meme token PUMP experienced a big plunge.
The PUMP token has dropped below the public sale issue price of $0.004, going from a peak to a freezing point in just 10 days, directly cooling off.
This reminds us: in a high-heat, low-threshold market, FOMO is the easiest emotion to fall into a trap. Whether it's PUMP or subsequent new tokens, remember this iron rule:
"Be quick in trading memes, but cautious in picking up the chips."
📌 Summary: This is not the end, but a reshuffle
Looking back, although these 24 hours were thrilling, they were essentially a process of 'emotional adjustment + leverage clearing + main force adjusting positions.'
🟢 Good news for bulls:
ETH's price structure remains healthy and may challenge $4,000 again
BTC miners and whales have not fled, chips are still concentrated
BNB drives the ecosystem's heat, and the value of platform tokens continues to rise
🔴 Signal for shorts:
The liquidation wave indicates that high leverage risks are being unleashed
Long-term holders are beginning to gradually take profits
Meme frenzy cools down, short-term sentiment weakens
So how should we view the upcoming market? Don't chase highs and cut lows, don't be one-sided, and don't deny everything. A more reasonable strategy is: reduce leverage, control risk, focus on the movements of main capital, and wait for the next round of positioning opportunities.
Conclusion: In the crypto world, every tremor is an opportunity 💎
Did you get liquidated today? Or are you preparing to buy the dip? No matter if you are a novice, an old player, or smart capital lurking, remember this phrase:
"The crypto world is never short of opportunities; what is lacking is the courage to act rationally after seeing through the emotions."
The next round of explosive growth often hides in the moment when others panic and cut losses.
🧠 Focus on fundamentals, control emotions, and be a bit patient. The bull market may just be taking a bath and will be back soon.
The cryptocurrency world changes quickly, with opportunities and risks coexisting. Learn to enter and exit strategically, protect your principal, and you can move forward steadily, gaining wealth and growth.✍️
Remember to DYOR, manage risk well, and wish everyone smooth sailing in the crypto world! 🌊
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