🚨 Crypto Market Shakeout: $630M Liquidated, Metaplanet Buys the Dip
The crypto market kicked off the week with heavy turbulence. More than $630M in leveraged positions were wiped out in the past 24 hours, according to Coinglass. A staggering 89% were longs, showing traders leaned too bullish. The largest single liquidation? A $12.66M BTC order on Binance.
📉 Market Action:
BTC slipped under $115K during Asian hours.
ETH, XRP, and SOL also dropped.
Meme coins faced even sharper losses.
Over 218,000 traders were liquidated.
💼 Institutional Moves:
While retail traders got rekt, Japanese firm Metaplanet scooped up 5,419 BTC, lifting its total stash to 25,555 BTC.
⚠️ Technical Outlook:
BTC testing support near $114,000 (50-day EMA).
RSI dipping below 50 → early bearish momentum.
MACD nearing bearish crossover.
👉 If BTC breaks below support, more downside could follow. But institutional demand shows long-term onviction remains strong.
