Today the entire market is deleveraging at full speed. $ETH ’s single-day drop of -5.2% is even more brutal than $BTC .
Let me get straight to the numbers: in the past 24 hours, the total market liquidations reached 1.1 billion; 857 million of that is $BTC longs being liquidated. Since June, cumulative on-chain liquidations have already exceeded $369 million—leverage funds have basically been fully cleared out. Add to that today’s $10 billion $BTC options expiry plus the hawkish remarks as a catalyst: retail investors are cutting losses, while institutions are standing by.
Most importantly, $ETH ’s own playbook is also playing out: this year, the spot ETF has seen net outflows of $400 million; on-chain buying has同比-80%; and even the bargain-hunting bids are nearly gone. At the level of 1546, it’s almost halved compared to the 2021 peak. Retail sentiment is genuinely collapsing.
My take: this is not the time to bottom-fish. Wait for two signals—ETF flows turning positive and liquidation volume falling back below 200 million. That would indicate the shorts have already wiped out the last batch of longs, and only then might we see a bottom.
What do you think—keep waiting, or start scaling in with smaller lots? #$ETH market update #清算数据 #ETF fund flow
Let me get straight to the numbers: in the past 24 hours, the total market liquidations reached 1.1 billion; 857 million of that is $BTC longs being liquidated. Since June, cumulative on-chain liquidations have already exceeded $369 million—leverage funds have basically been fully cleared out. Add to that today’s $10 billion $BTC options expiry plus the hawkish remarks as a catalyst: retail investors are cutting losses, while institutions are standing by.
Most importantly, $ETH ’s own playbook is also playing out: this year, the spot ETF has seen net outflows of $400 million; on-chain buying has同比-80%; and even the bargain-hunting bids are nearly gone. At the level of 1546, it’s almost halved compared to the 2021 peak. Retail sentiment is genuinely collapsing.
My take: this is not the time to bottom-fish. Wait for two signals—ETF flows turning positive and liquidation volume falling back below 200 million. That would indicate the shorts have already wiped out the last batch of longs, and only then might we see a bottom.
What do you think—keep waiting, or start scaling in with smaller lots? #$ETH market update #清算数据 #ETF fund flow