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This is crazy.
In just 24 hours, $BTC jumped from $77,200 to $79,400, liquidating $205 million in short orders, then quickly dropped back below $77,500, liquidating another $153 million in long orders.
A total of $358 million was liquidated.
Currently:
This is crazy. In just 24 hours, $BTC went from $77,200 to $79,400, liquidating $205 million in short orders, then quickly dropped back below $77,500, once again liquidating $153 million in long orders. A total of $358 million was liquidated. Currently: Above $79,500–$81,500, there is a large amount of liquidity that could be wiped out → pushing the price higher Below $74,500–$77,500, more liquidation zones have accumulated → based on probability, the likelihood of hitting these levels is higher Both the buying and selling sides are being “harvested.”