the bear training has started.

#BTC THE LARGEST LIQUIDATION SINCE 2021!

WHY DID THE MARKET WITH A VOLUME OF ALMOST 2 BILLION DOLLARS ONLY IN 24 HOURS?

HERE'S WHAT HAPPENED:

1. COINBASE TRADERS STARTED TO SELL OFF.

COINBASE TRADERS STARTED SELLING 1 HOUR BEFORE THE LARGE DUMP. THE SELLING PRESSURE PUSHED LIQUIDATION LIKE DOMINOES.

2. THE LIQUIDATION CASCADE CAUSED THE BIGGEST DROP.

AS SOON AS THE MARKET REACHED THE KEY LIQUIDATION ZONE, THE GAME WAS OVER.
- POSITIONS WITH EXCESSIVE LEVERAGE STARTED TO CLOSE.
- STOP-LOSSES WERE TRIGGERED, CREATING A CHAIN REACTION.

3. THE MARKET WAS OVERHEATED

- THE COST OF FUNDING WAS HIGH (A SIGN OF EXCESSIVE LONG POSITIONS).
- OPEN INTEREST ROSE RAPIDLY (TOO MANY TRADERS CAME IN).

AND THEN SOMETHING INTERESTING HAPPENED...

1. STRONG BUYER PRESSURE EMERGED ON ETH

ETH DID NOT EXPERIENCE A STRONG DROP IN COMPARISON TO BTC.

THERE IS ALSO VOLUME.

2. UNUSUAL SELL-OFF OF XRP

LOW LIQUIDITY OF XRP WORSENED THE SITUATION. XRP MAY HAVE A HIGHER MARKET CAPITALIZATION, BUT ITS LIQUIDITY IS STILL LOW. THAT'S WHY XRP CAN RISE BY HUNDREDS OF % OR DROP OUT OF NOWHERE.