💥💥💥 Blood flows like a river! Over 380 million in long positions suffered a bloodbath. This March, the bulls were taught a harsh lesson ✔️
I just took a look at the data, and in the past 24 hours, more than 380 million USD in liquidations occurred across the network, with 78% being long positions. What does that mean? It means that those who thought 'the drop has hit the bottom, let's rush to buy' were essentially wiped out.
Bitcoin plunged from around 70000 directly to 68500, and Ethereum broke below 2100. Many people’s stop-losses were directly breached, and they didn’t even have time to react before being forcibly liquidated.
Several friends of mine have been saying: It clearly looked like a support level, how come it collapsed as soon as we entered?
It’s actually quite simple — the main force is clearing the leverage. Before this drop, the market’s long-short ratio was too high, and there were long positions everywhere. The main force only needed to give a slight push to reap a harvest. Stop always thinking about 'buying at the lowest point'; before the emotions have fully released, any rebound could just be a 'trap for the bulls'.
If you’re trading contracts, I suggest taking a break for the next few days; don’t confront the market head-on. Spot players shouldn’t rush to go all-in either; keep some bullets in reserve and wait for stabilization before making any moves.
Remember: Bull markets often have sharp drops; surviving is key to a future.
