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In the past 24 hours, 66,653 traders were liquidated making a total liquidations of $225.20M losses. The largest single liquidation order happened on OKX- ETH-USD-SWAP with a value of $4.60M (pocket money) Coin Liquidation Heatmap
It’s pretty interesting to see that the amount of liquidated ETH and BTC are almost the same. Exchange Liquidation Heatmap
Now, why all this happened? Well, basically again the market overreacting to FOMC news about not cutting rates yesterday. However there is nothing to worry about. This is a game of speculating and some of them lose and other wins. The good thing is that Powell is dancing in a dangerous floor because if he delays too much the cut rates, recession will come and as you know US elections are coming and that is bad for business. TLDR; Powell has to make some move before US elections. Time is in our favor. Screenshots and data source: Coinglass https://i.redd.it/o6noc0xy10gd1.gif Disclaimer: The concept and ideas in this post come from my own thoughts and everything I’ve seen online during my three years in crypto. Any resemblance is purely coincidental. submitted by /u/kirtash93 |
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