💣【Scene of the long explosion! $700 million turned to dust?】
In the past 24 hours, the crypto market experienced a 'seismic' fluctuation! 📉 Bitcoin briefly fell below $115,000, hitting a low of $114,000, and even altcoins weren't spared, all falling together😵💫.
This sudden drop directly triggered a 'minefield' in the crypto derivatives market—over $700 million in long positions were liquidated, making the situation quite tragic💀.
Although BTC has rebounded slightly above $115,000, the overall market sentiment remains bearish⚠️. If you feel like 'the wind is a bit strong', it's not your illusion—there are indeed people who are swimming naked🏊.
The current market is experiencing violent fluctuations, and I advise everyone to pay attention to risk control and not to blindly chase highs or bottom out⚖️. After all, this is not a bull market sprint, but rather a 'wakeup slap' from the market👋.
The chart below shows the recent performance of the asset.#BTC走势分析
In the past day, the price of this token seems to have dropped significantly | Source: BTCUSDT on TradingView
🚨【115K again! Can Bitcoin hold up this time?】
Last week, Bitcoin (BTC) had already 'tentatively' dropped to $115,000, but at that time, it rebounded quickly like it was on steroids, stabilizing around $118,000, and began several days of 'lying flat' sideways consolidation😮💨.
This time, BTC once again fell below the familiar $115K, even hitting a low of $114,000, making one wonder: is this another 'false drop'?
Or are we really going to break the sideways trend and start a new round of movement? At the moment, it's hard to conclude, as the market sentiment is like a soda bottle that's been shaken for too long; once shaken, it can explode, but you can never guess when it will pop🍾.
What’s even more worrying is that altcoins are having a much tougher time💔. In the past day, although BTC was hurt, it could still get back up, while a bunch of altcoins are in dire straits.
For example, Solana (SOL) and Hyperliquid (HYPE) both fell by over 5%, becoming 'disaster areas' against the backdrop of a sudden market weakness📉.
This means that although Bitcoin has fallen to a heart-pounding level, at least it still has some 'spirit' holding around $115K. In contrast, those more volatile altcoins are like riding a roller coaster, completely unable to react before getting stuck in mid-air🎢.
But the good news is that based on past experiences, each sharp drop is an opportunity for the market to reshuffle✨. Whether it was a 'false drop' will depend on the next few days’ movements, but at this critical moment, holding a light position and staying calm is the truth🧘.
💥【The 'liquidation storm' in the crypto circle has arrived! Over $800 million liquidated overnight in the derivatives market!】
Did you feel the air suddenly become quiet last night? No, that wasn't an illusion; it was the desperate screams of the longs in the crypto derivatives market that have broken through the skies...📉😱
According to the latest data from CoinGlass, this wave of market volatility directly triggered liquidations worth a staggering $804 million, and the hardest hit were the long traders: $741 million came from long contracts, accounting for a staggering 92%, making this battle a 'long slaughter'💣.
From the 'battle loss list', **Ethereum (ETH)** has become the biggest 'liquidation king' this time👑, with over $250 million liquidated from just one cryptocurrency! Meanwhile, our Bitcoin (BTC) followed closely behind, with a liquidation amount of up to $200 million—this wave of market action really made everyone 'return to zero overnight', and wallets are almost crying out💸💔.
It seems that the longs have endured the shock of liquidation over the past day | Source: CoinGlass
And this is just the tip of the iceberg in the derivatives market. With the sudden plunge of mainstream cryptocurrencies, the overall market sentiment shifted 'from greed to panic' in a short time⚠️. Many investors are lamenting in groups: 'This wave of leverage got washed up on the beach...'
But that said, although the wave of liquidations came fiercely, it might also be a 'washing ceremony' before the market rebounds✨. If you weren't scared off by the volatility, perhaps the upcoming opportunities will belong to you🧘♂️🚀.
I remind everyone: the recent market is highly volatile, be cautious with increasing positions and rational with stop losses. Remember, a moment of liquidation may feel good, but it leads to a funeral for your capital!🔥
Liquidation situation segmented by symbol | Source: CoinGlass
💥【ETH suddenly 'pushing down' BTC, a warning sign before the liquidation storm?】#BTC
Recently, ETH has been a bit 'show-stealing'!📉🔥
In the past 24 hours, Ethereum's price plummeted, not only causing market fluctuations but also allowing it to surpass Bitcoin on a key metric—liquidation volume!
Why is this happening? On one hand, ETH's price has fluctuated violently in a short time, and on the other hand, a few days ago, ETH just broke through a key point, attracting a wave of 'speculative frenzy'💰📈. These factors combined directly ignited the fuse for liquidation.
In fact, the market had long buried the foreshadowing. CryptoQuant analyst @Maartunn posted a chart yesterday, warning us: Bitcoin's open interest is rapidly surging📊🚨.
What does this mean? Simply put, the higher the capital piles up, once the price fluctuates too violently, it can easily trigger a 'stomping-style' liquidation—commonly known as a liquidation wave🌊!
⚠️Reminder to all surfers: The short-term waves are rough, be cautious with leverage, and don’t let your wallet dive too💸.
BTC open interest data from a few days ago | Source: @JA_Maartun on X
📊【Liquidations have occurred, yet some are still increasing their positions? BTC open interest is skyrocketing!】
Did you think the recent $800 million liquidation wave could deter speculators? Too naive!💥
Let's look at the key data📉: 'Cumulative open interest'—which is the total position of BTC-related derivatives across all centralized exchanges, is actually still rising! This indicates that just after a wave of liquidations, there are still a large number of brave souls rushing into the market to continue gambling!🎢💰
CryptoQuant analyst @Maartunn pointed out ByBit this morning: Bitcoin's open interest suddenly surged, as if completely ignoring yesterday's liquidation of over $700 million...🤯
This operation is quite 'brave' and also 'risky'—because the more open contracts there are, the more leverage is in the market, and if the market continues to fluctuate violently, it could be a sign of the next round of 'chain explosions'💣💣.
⚠️Short-term traders beware: Don't just watch the excitement, pay more attention to your wallet balance. After all, the market is always full of brave souls, but what's lacking is the fare to get home safely🫠.
The indicator on ByBit seems to have surged significantly | Source: @JA_Maartun on X
