sightLEVERAGE LIQUIDATIONS•Oct 9
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Crypto shorts worth $113 million liquidated in 24 hours
Crypto traders betting on falling prices had $113 million in short positions liquidated over 24 hours. Bitcoin’s biggest cluster sits near $90,000, so a move to that level could force more leveraged shorts to close and add fuel to the squeeze.
The derivatives stress is showing up in Ethereum too. One trader lost $471,000 shorting ETH, then opened a 25x long position. ETH liquidity has fallen below half of Bitcoin’s, making the market thinner when forced trades hit.
The derivatives stress is showing up in Ethereum too. One trader lost $471,000 shorting ETH, then opened a 25x long position. ETH liquidity has fallen below half of Bitcoin’s, making the market thinner when forced trades hit.
Timeline2
Oct 5
Crypto short liquidations reached approximately $113 million over the prior 24 hours.
Oct 5
Bitcoin’s largest short-liquidation cluster was reported near $90,000.
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Oct 9