🚨 Warning: Liquidation of $102 million in cryptocurrency markets within 4 hours!
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📉 The most important news:
* Contracts worth $102 million were liquidated in the cryptocurrency markets during the past four hours, in a sudden selling wave.
* The majority of this liquidation was distributed across long positions, amounting to $93 million, compared to only $8.3 million for short positions.
* This liquidation reflects a sharp price movement in the market, leading to the closure of many leveraged positions.
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💡 What does this mean?
* The massive liquidation of long positions indicates that the price drop was sudden and strong, trapping the optimists in the market.
* This event highlights the high market volatility and reminds traders of the risks associated with leverage, especially when the market is unstable.
* This liquidation may suggest that the recent upward movement was driven by excessive optimism, and a correction was necessary to cool down the market.
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❓ Do you think this liquidation was necessary to cool down the market before a new rally?
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