FOMOKing2289
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STRONG SELL PRESSURE DOMINATES THE MARKET
IS MN STILL CONFIDENT IN THE UPTREND?
In the past 24 hours, the market has recorded nearly 600 million USD being liquidated, reflecting a high level of risk and widespread excessive leverage.
Binance has become the exchange with the largest liquidation volume, surpassing Hyperliquid, indicating that the selling pressure is primarily concentrated on major derivatives exchanges. The forced closure of long positions has created a contagion effect, causing prices to drop quickly and decisively.
$BTC dropped to the 85,000 USD area, breaking through a region with many long and stop-loss orders, triggering additional technical selling.
$ETH breached the 2,900 USD mark, indicating that money is flowing out of risky assets, not just a short-term correction.
Derivatives data prior to the decline showed a high funding rate and increasing open interest, a clear state of imbalance. As buying pressure weakened, the market quickly entered a phase of leverage cleansing.
#crypto #NewsAboutCrypto
IS MN STILL CONFIDENT IN THE UPTREND?
In the past 24 hours, the market has recorded nearly 600 million USD being liquidated, reflecting a high level of risk and widespread excessive leverage.
Binance has become the exchange with the largest liquidation volume, surpassing Hyperliquid, indicating that the selling pressure is primarily concentrated on major derivatives exchanges. The forced closure of long positions has created a contagion effect, causing prices to drop quickly and decisively.
$BTC dropped to the 85,000 USD area, breaking through a region with many long and stop-loss orders, triggering additional technical selling.
$ETH breached the 2,900 USD mark, indicating that money is flowing out of risky assets, not just a short-term correction.
Derivatives data prior to the decline showed a high funding rate and increasing open interest, a clear state of imbalance. As buying pressure weakened, the market quickly entered a phase of leverage cleansing.
#crypto #NewsAboutCrypto
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