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ZeusInCrypto
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‼️ #Bitcoin Update ‼️
That quick dump right after hitting over $100,000 was very much expected and most of my community members were well aware of that as i talk about it so many times before,
Yesterday at night, ~$540 m longs (Source: CryptoSlate) were liquidated.
For those who are new to BTC and crypto: These liquidity grabs happen whenever Open interest (OI, metric for how many leveraged positions are open) has gone up significantly and liquidity in the markets is getting low.
Chart 2 shows some Binance futures related data. OI has nicely come back, same as aggregated premium and funding.
A little short-term correction here below 100k (between 92 and 98k) would not be surprising (like we saw after the ETF approval.
#ZeusInCrypto
That quick dump right after hitting over $100,000 was very much expected and most of my community members were well aware of that as i talk about it so many times before,
Yesterday at night, ~$540 m longs (Source: CryptoSlate) were liquidated.
For those who are new to BTC and crypto: These liquidity grabs happen whenever Open interest (OI, metric for how many leveraged positions are open) has gone up significantly and liquidity in the markets is getting low.
Chart 2 shows some Binance futures related data. OI has nicely come back, same as aggregated premium and funding.
A little short-term correction here below 100k (between 92 and 98k) would not be surprising (like we saw after the ETF approval.
#ZeusInCrypto
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