So, what happened on May 5? Another 'banana' Monday in the digital asset market. According to Coinglass — a source slightly more trustworthy than CNN — the market 'spat out' $222 million in liquidations in the last 24 hours. That's almost like someone flushed half the budget of an average American city down the toilet.
And you know what? They were the bulls. YES, THE BULLS.
$173 million — that's the losses of those who bet on growth. Well, of course, why analyze the market when you can just believe in magic? Maybe these traders thought Bitcoin would rise because Mercury entered retrograde?
But let's not forget about the bears — they also got hit. To the tune of $48.6 million. Of course, it's less, but enough not to order avocado toast for a couple of weeks.
Now imagine: 77,966 traders.
They all found themselves on the mental bottom of Binance in one day, without pants and without leverage. Someone might say, 'The market is brutal.'
And now pay attention: the largest liquidation — ETH/USDT, at $2.36 million.
Yes, someone placed a hefty all-in on a centralized exchange. And now — a loss of almost two and a half million. Imagine the face of that trader. And now — the face of Sam Bankman-Fried in the prison cafeteria. Almost the same thing.
What does this mean?
This means that the market has shown once again: it does not get along with emotions, hopes, or technical analysis based on coffee grounds. But the main thing is this warning. For those who still think
Conclusion?
Set stop-losses. Think with your head. And don't trade on news from Twitter, even if it was retweeted by Trump.
