The total liquidation across the network is 370 million, and the mean reversion opportunity has arrived.

Coinglass data shows that in the past 24 hours, there has been a liquidation of 370 million USD, with longs dominating the market. 135 million BTC longs have been liquidated, and 123,000 traders have exited.

The greed index is at 18, indicating that the market has entered a phase of significant overselling. Historical experience shows that this scale of leverage washout is often accompanied by a mean reversion rebound of 3% to 5%. The buying density for BTC at 85,000 has started to recover in the past half hour, and there is a willingness to short ETH at 2,800.