168,583 traders got liquidated in a single day last week and I want you to sit with that number for a second.
Not 168 traders, not 1,683 traders.
One hundred and sixty eight thousand five hundred and eighty three real people lost money in 24 hours.
$861 million gone, 91% of it from long positions, the single largest order was a $12 million $BTC long on Binance that got wiped instantly.
I think what this week taught the market is that leverage is not a strategy, it is a bet, and when 168,000 people make the same bet in the same direction the market does not reward them, it punishes them all at once.
From my own view the people who survived this week are not the smartest traders, they are the ones who were not using leverage.
TRADE HERE - $ETH - $SOL
Not 168 traders, not 1,683 traders.
One hundred and sixty eight thousand five hundred and eighty three real people lost money in 24 hours.
$861 million gone, 91% of it from long positions, the single largest order was a $12 million $BTC long on Binance that got wiped instantly.
I think what this week taught the market is that leverage is not a strategy, it is a bet, and when 168,000 people make the same bet in the same direction the market does not reward them, it punishes them all at once.
From my own view the people who survived this week are not the smartest traders, they are the ones who were not using leverage.
TRADE HERE - $ETH - $SOL