📈On May 9, news reports that $BTC once broke through 103,000, and $ETH H broke through 2,200!
💥24-hour total liquidation data across the network
🔹Over 200,000 people collectively liquidated 969 million, of which short positions accounted for 836 million, making up 87%. Are you still shorting? 🫵
🔹Bitcoin liquidations totaled 416 million, Ethereum liquidations totaled 299 million, and other altcoins like Sol, Sui, Doge, etc., had liquidations of 254 million ❤️🩹
🔹Largest single liquidation: 11.96992 million U from a Binance user 🈳
🔍Analysis of the reasons for short positions being liquidated
🔹Positive signals from China-US negotiations: The main reason for this round of decline is the escalation of China-US confrontation. Now that China and the US have announced peace talks, failing to liquidate shorts would appear unromantic from the whales' perspective!
🔹Institutions continue to increase BTC holdings: Asset management giants led by BlackRock have been buying Bitcoin ETFs worth hundreds of millions of dollars daily for two consecutive weeks, and MicroStrategy continues to increase its holdings, boosting market sentiment and breaking through the 98,000 and 100,000 resistance levels!
🔹Trump continues to pressure the Federal Reserve to cut interest rates: Although the Federal Reserve has stated that it is not time to cut rates, Trump is pressuring the Federal Reserve through his speeches and tariff policies. Currently, market expectations for rate cuts are approaching, and Trump even publicly urged everyone to buy stocks yesterday!
⚠️Don't chase high altcoins, be aware of short-term correction risks
The current market is driven by three factors: geopolitical (China-US negotiations), macro policies (Federal Reserve interest rates), and institutional behaviors (ETF capital inflows). Bitcoin is leading the charge, and Ethereum is also holding strong! However, based on Trump's unpredictability, the China-US peace talks starting on May 9 may not go smoothly. Be prepared for a swift downturn when chasing high altcoins!
