🚨 Liquidation report: the market is washing out open positions!
We witnessed a wave of violent liquidations in the last 24 hours that wiped out $94.53 million from the market. Here are the details and what these numbers mean:
📊 Key liquidation numbers:
Total (24 hours): $94.53 million.
Number of affected traders: 60,161 traders.
The largest single liquidation: occurred on the Hyperliquid-BTC pair worth 1.23 million dollars.
🔍 Analyzing the balance between (Longs vs Shorts):
It is clearly noticeable that the balance is tilting towards liquidating long contracts more across all time frames:
In the last hour: 9.79 million dollars of Longs were liquidated compared to only 567 thousand dollars of Shorts.
Over the last 24 hours: 61.45 million dollars of Longs were liquidated, indicating a sudden selling pressure that hit the stop-loss areas for buyers.
💡 What does this mean for the smart trader?
Healthy correction or trend change? These massive liquidations often act as fuel for the upcoming market movement. The exit of "weak hands" and high leverage paves the way for price stability.
Risk management: the market does not forgive those with high leverage. Always ensure to set a Stop Loss far from crowded liquidity areas.
Waiting for stability: after a wave of liquidations of this size, it is preferable to wait for price stability and a clear entry signal instead of chasing down candles.
Do you think the market will continue to drop to liquidate more long contracts, or have we reached the local bottom? 👇
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