Dogecoin leading with 7.6% losses and dragging everything down with it. $538 Million in longs got liquidated in just one hour earlier today.
This is exactly why I keep saying - leverage is not your friend in crypto. The same people celebrating 100x long positions yesterday are getting margin called today.
Bitcoin crashed from $124K to $117K in the Asian session and caught everyone off guard. Weekend low liquidity + overleveraged positions = recipe for disaster.
But honestly, this might be what we needed. All that froth needed to get cleared out.
Who else got liquidated today? Drop an F in the comments for the fallen soldiers
