💸 Total liquidations on cryptocurrency futures markets: $712.5 million in 24 hours.
*Long positions: $650 M*, *Short positions: $62.5 M*.
👩💻 Every time I denounce the excessive use of high leverage. We will never have a bullish market 🚀 to the desired extent as long as we persist in the same mistakes, and it only takes a little to crash the market price.
📈 A bullish rebound will trigger massive liquidation of short positions, thus stopping the bullish momentum, even causing a slight setback which will also lead to massive liquidation of long positions; this is what has been dragging us down for months.
The cryptocurrency market, and more specifically Bitcoin, is supposed to be independent, an alternative to traditional markets and classical monetary systems, but remains subject to bad behaviors and the doubts of holders and users in the face of external factors.
Ps: universal citizen, Binancian at any cost 😎