The past two days have marked one of the most significant liquidation events of this year, with nearly 2 billion USD long short flowing directly into the pockets of the market makers.
Notably, while the market cap of $BTC is about 5 times larger than $ETH, the total amount of $ETH liquidated exceeds that of $BTC by 50% (600 million USD compared to 400 million USD).
This reflects that the cash flow in the market is largely concentrated in $ETH.
If you stay alert, you will remember that after each strong liquidation, the market often rises because the retailers' holdings have been completely wiped out!!!
