⚡️ LIQUIDATION UPDATE: THE "BILLION-DOLLAR BLOWOUT" CONTINUES 📉
The derivatives market is undergoing the most brutal "cleansing" of leverage we've seen in months. Recent on-chain data reveals a horrifying new milestone:
📌 Total figure: $1.73 billion liquidated across the market in the past 24 hours.
📌 Market split: Long positions dominate with $1.44 billion, showing that the bulls were completely blindsided by this sharp downturn. The bears (shorts) also faced minor losses, nearing $290 million.
📌 High frequency: Looking at the red-highlighted cluster of candlesticks at the bottom, it's clear that this is a series of large-scale liquidations happening continuously, indicating that the accumulated leverage was extremely high and is being forced to "retch" it all out.
As the market is determined to "purge" excessive leveraged positions, maintaining a safe Spot account or sitting on the sidelines is the smartest move right now. ⚡️
$BTC #SP500KeepsOriginalRulesBlockingSpaceX
The derivatives market is undergoing the most brutal "cleansing" of leverage we've seen in months. Recent on-chain data reveals a horrifying new milestone:
📌 Total figure: $1.73 billion liquidated across the market in the past 24 hours.
📌 Market split: Long positions dominate with $1.44 billion, showing that the bulls were completely blindsided by this sharp downturn. The bears (shorts) also faced minor losses, nearing $290 million.
📌 High frequency: Looking at the red-highlighted cluster of candlesticks at the bottom, it's clear that this is a series of large-scale liquidations happening continuously, indicating that the accumulated leverage was extremely high and is being forced to "retch" it all out.
As the market is determined to "purge" excessive leveraged positions, maintaining a safe Spot account or sitting on the sidelines is the smartest move right now. ⚡️
$BTC #SP500KeepsOriginalRulesBlockingSpaceX