In the past 24 hours, the market has experienced a major liquidation: 206,993 people were liquidated, amounting to as much as $906 million! Among them, long positions were liquidated for $820 million, and short positions for $85.81 million, primarily affecting long positions.
Such a level of liquidation often indicates that market sentiment is overheated, and leverage has accumulated too much, so a simple fluctuation can trigger a chain reaction. Although it is painful in the short term, it often helps to wash away floating capital, making the market healthier.
