HUUUGE LIQUIDATIONS😧
Market Shakeout: $2.18B Liquidated in 24 Hours
714K traders and $2.18B were liquidated — more than during the COVID dump and more than the FTX collapse.
The reason is a trade war seemingly ignited by Trump, with tariffs imposed on Canada, China and Mexico.
The CEO of Bybit says that $2.1 billion was liquidated on their exchange alone, and the total volume of liquidations, according to his estimates, is $8-10 billion.
Good bear trap 🪤
