A catastrophic $2.6 Million mutual destruction event is actively liquidating the biggest players in the market.
The $SOXL
chart is an absolute graveyard right now. While retail panics over a massive -14.27% dump, the on-chain data reveals a terrifying reality: the top 112 whales are completely trapped in a $58 million meat grinder, and NO ONE is safe. 63 long whales who stubbornly bought the $245.48 top are bleeding out with over $2.01 Million in horrific unrealized losses. But the bears are getting crushed too! 49 short-selling whales jumped in too late at a $221.94 average entry and are now drowning in over $659K of red. Both sides are getting violently chopped up in this engineered volatility, creating a toxic environment explicitly designed to wipe out over-leveraged accounts.
I am personally standing completely aside from this absolute bloodbath. Trying to trade in a zone where even the multi-million dollar whales are getting slaughtered is a guaranteed way to lose your portfolio, so my capital stays safely in cash.
The $SOXL
chart is an absolute graveyard right now. While retail panics over a massive -14.27% dump, the on-chain data reveals a terrifying reality: the top 112 whales are completely trapped in a $58 million meat grinder, and NO ONE is safe. 63 long whales who stubbornly bought the $245.48 top are bleeding out with over $2.01 Million in horrific unrealized losses. But the bears are getting crushed too! 49 short-selling whales jumped in too late at a $221.94 average entry and are now drowning in over $659K of red. Both sides are getting violently chopped up in this engineered volatility, creating a toxic environment explicitly designed to wipe out over-leveraged accounts.
I am personally standing completely aside from this absolute bloodbath. Trying to trade in a zone where even the multi-million dollar whales are getting slaughtered is a guaranteed way to lose your portfolio, so my capital stays safely in cash.