TM_故人

What is a fee rebate? At Binance, each transaction (spot & futures) incurs a fee. Most people end up paying thousands to tens of thousands of U in fees over a year.

In simple terms:
Opening a rebate = reducing trading costs + increasing win rates;
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If Ethereum breaks through $3100, the liquidation of 905 million mainstream CEX short positions is not an exaggeration. Looking back at May this year when ETH surged 40%, 438 million short positions were liquidated within 3 days, forming a 'short squeeze' spiral. Now that the key resistance level has been broken, the scale of liquidation will only be larger.

The practical lesson in trading is not to follow the crowd into high leverage positions. In May, retail investors followed the trend to open high-leverage short positions and ended up being liquidated, losing everything.

In the short term, the chain liquidation after the breakout may amplify the effects, but currently, the market has a large divergence between bulls and bears, and $3100 is also a strong resistance. In the long term, it still relies on capital flows and expectations of macro interest rate cuts to support it, and the volatility will not be small.

The "big whale" behind the 1011 insider news has opened a $15 million 5x ETH short position, which is not surprising—this trader previously earned nearly $200 million from a large short position just before the market flash crash on October 11, making them a true "shorting veteran".

In comparison, recently there has been a big whale opening a 25x ETH short position, but the 5x leverage combined with a tens of millions level position is already a relatively conservative high-risk operation. The practical insight from trading is that even big whales can stumble; at the beginning of November, they almost faced liquidation due to their long position, as leverage has never been a guaranteed way to profit.

In the short term, this may put slight selling pressure on ETH, but the cryptocurrency market is already highly volatile, and the actions of a single whale are unlikely to change the overall trend; ultimately, it still depends on capital flow and general market sentiment.

If Bitcoin breaks through $92,000, the cumulative 557 million short positions in mainstream CEX clearing is not unexpected. Looking back at the breakthrough of $110,000 in May this year, 260 million short positions were cleared, and the October crash triggered nearly 20 billion in liquidations. The crypto market has always been a "meat grinder" for leverage.

Behind this is the double-edged sword effect of high leverage; with 10x leverage, a 10% price movement can lead to liquidation. The most practical insight in trading is not to be greedy for high leverage, and to avoid going all in.

In the short term, breaking through key price levels may trigger a chain reaction of liquidations that push prices higher, but in the long term, it is still influenced by macro sentiment and capital flows, and volatility will be the norm.

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