20 billion liquidations, 1.6 million traders exiting, BTC may test the weekly EMA60
CoinGlass data shows that Hyperliquid tops all exchanges in liquidation volume, reaching 10.31 billion USD. Bybit follows with a liquidation volume of 4.65 billion USD, and Binance's liquidation volume is 2.41 billion USD. Other major platforms, such as OKX, HTX, and Gate, have smaller liquidation volumes of 1.21 billion USD, 362.5 million USD, and 264.5 million USD, respectively.
Nearly 20 billion in liquidations and 1.6 million traders exiting — this crash is anything but coincidental; Trump's attitude and posts merely amplified the level of panic, and it's essentially the inevitable result of excessive leverage colliding with a liquidity vacuum.
A long-short liquidation ratio of 7:1 exposes the market's hidden one-sided bubble, and the short-term risk release is far from over.
As a key cyclical line for bull-bear transitions, the support significance of the weekly EMA60 goes without saying. Looking back at August 2024 and April 2025, $BTC also tested key moving averages due to external negative news within a few months, and now a similar script is unfolding: macro disturbances combined with technical breakouts have formed a retracement inertia.
Don’t be lulled into complacency by the argument that “the fundamentals are not bad”; clearing leverage is often accompanied by a technical correction.
BTC will likely test the weekly EMA60 soon, and the price action in April 2025 may just be a preview of what is happening now; let’s wait and see.
(Data source: CoinGlass, not investment advice, DYOR!)
