$623M Liquidated in 24 Hrs: Crypto Market Update
In the past 24 hrs, $90M more liquidated, totaling $623M. $67M longs & $23M shorts liquidated in the last hour alone. Bitcoin's drop below $64K triggered this, down from recent highs.
Mostly longs liquidated ($454M vs. $87M shorts). Bitcoin accounted for $156M of total liquidations. Over the last 30 days, liquidations surged for both longs and shorts.
Surplus of short leverage in Bitcoin seen, but funding rate remains positive for now. Total leverage shows critical long leverage around $50K mark, with much flushed out between $73K and $50K.
Traders eyeing re-entry amid volatility, setting new leveraged positions at each support/resistance level. Stay informed and trade cautiously!
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