#Liquidations

🚨 $BTC Liquidation Cascade Wipes Out $646M in 24 Hours! 📉

Bitcoin dropped 2.1% from $117,786 to $115,353, triggering a massive $646.5M in liquidations across crypto markets. Long positions took the brunt, with $492.6M (76.2%) wiped out. 🩸

🔎 Breakdown (CoinGlass data):

• Bitcoin: $152M liquidated ($136M longs vs. $16.1M shorts)

• Ethereum: $152M ($91.1M longs vs. $61.5M shorts)

• $SOL : $39.2M (mostly longs)

• $XRP : $29.9M (mostly longs)

💥 Binance led with $232.9M in liquidations (75% longs), followed by Bybit ($187.5M) and OKX ($108.1M). A brutal 4-hour window saw $201.8M in closures, $184.8M from longs.

📈 Despite the chaos, BTC stabilized above $115K, with spot markets absorbing the sell-off and funding rates cooling. Is the leverage reset a sign of calmer waters ahead? 🤔