$366 million in positions wiped out in 24 hours — and 84% of them were longs betting on prices rising.
Facts: CoinGlass data (Nov. 3) recorded $365.9 million in liquidations over 24 hours, affecting 93,206 traders. Long positions accounted for $306.7 million (83.8%), compared with $59.2 million in shorts. BTC is around $76,800 today, down nearly 2% in 24 hours, while ETH is around $2,250.
My take: This isn’t a market collapsing in a day; it’s leverage piling up in the wrong direction. As prices slowly slid from $78,000 to below $77,000, long positions opened on the rebound were swept away one by one — and those forced closures deepened the decline. It’s the same pattern as the $154 million in liquidations on Oct. 26: the people hit hardest are always those most certain the price has bottomed out.
What I’m watching: whether longs start piling up again ahead of tonight’s U.S. election results and the JOLTS data at 22:00 WIB, and whether BTC holds above $76,200 — a level analysts have identified as the nearest support.
What do you think: do liquidations this large cleanse the market, or are they a sign that speculators still haven’t learned their lesson?
This is my analysis, not financial advice — always DYOR.
#Likuidasi #Leverage $BTC $ETH
Facts: CoinGlass data (Nov. 3) recorded $365.9 million in liquidations over 24 hours, affecting 93,206 traders. Long positions accounted for $306.7 million (83.8%), compared with $59.2 million in shorts. BTC is around $76,800 today, down nearly 2% in 24 hours, while ETH is around $2,250.
My take: This isn’t a market collapsing in a day; it’s leverage piling up in the wrong direction. As prices slowly slid from $78,000 to below $77,000, long positions opened on the rebound were swept away one by one — and those forced closures deepened the decline. It’s the same pattern as the $154 million in liquidations on Oct. 26: the people hit hardest are always those most certain the price has bottomed out.
What I’m watching: whether longs start piling up again ahead of tonight’s U.S. election results and the JOLTS data at 22:00 WIB, and whether BTC holds above $76,200 — a level analysts have identified as the nearest support.
What do you think: do liquidations this large cleanse the market, or are they a sign that speculators still haven’t learned their lesson?
This is my analysis, not financial advice — always DYOR.
#Likuidasi #Leverage $BTC $ETH