Did you know that money can evaporate? Not in a figurative sense, but literally. You’re sure that your long on Ethereum is as reliable as a Swiss watch… And then — BAM! $274 million liquidated in 24 hours. And no, this isn’t the state budget of Zimbabwe. This is the crypto market.
Who suffered?
According to Coinglass data (which, by the way, clearly gathers NSA, just tell the truth already), most of the money was taken from longs, that is, from people who believed in a rise. People with hope. People with leverage. Yes, $216 million. Poof! And into the cloud.
What about the short sellers? Only $58 million got crushed. How nice. Another proof that dreaming is dangerous and believing in bitcoin is deadly.
Who is to blame?
Bears? Or maybe BlackRock's ETF didn't push the price up enough? Or perhaps Elon Musk dreamed something about Dogecoin again? No. It's your fault. You, with your third leverage and belief that "it's about to go up."
"The support level holds"
"There’s a bull flag here, definitely a pump!"
Uh-huh. Support? Sure. Liquidation. Bull flag? More like a white flag.
But why is the market so cruel?
Great question. Let’s imagine: you walk into a casino, and the dealer says to you, "Bet, but remember: at any moment we can turn off the lights, and all your chips will disappear into the market maker's pocket."
Does that sound strange?
Binance, Bybit, OKX, they all seem to be participating in a reality show: "Who will go broke today?" And the judges? Of course, the algorithms. They don’t sleep. They have no sense of pity. They only have your margin and the "Liquidate" button.
And what now?
HODL. Just HODL. Or, as the elders of the crypto industry say, "If you can't handle -70%, you don't deserve +3000%."
This, by the way, is not financial advice. It’s more of a warning. Like on a pack of cigarettes: "Trading with leverage kills."
If you stayed in position today, congratulations.
If you got liquidated, congratulations. At least you no longer check the terminal every 15 seconds.
