🚨 Is this a signal of the bulls retreating? Funds are concentrating into BTC and ETH!

Over the past 24 hours, liquidations across the entire network have reached as high as $540 million.

Of this amount, $370 million worth of long positions were liquidated, and the bears were not spared either ($160 million).

But on the 4-hour/12-hour timeframe, long liquidations far exceeded short liquidations.

This shows that the market is not falling one-sidedly; it’s the bulls retreating, and casualties during the retreat are severe.

Especially worth noting:

🔹 BTC: Long positions of $950 million (55.01% → still dominant, but the proportion is narrowing)

🔹 ETH: Long positions of $710 million (52%)

🔹 SOL / DOGE: Long and short are nearly balanced (50% vs 50%), indicating that funds are no longer locked in a fight

🔹 XRP: Shorts are dominant (54.54%), with the bears pressing in

📉 The direction for altcoins is clear: the bears are in control

The short-side proportions on popular altcoins like XRP, DOGE, etc. are already noticeably higher than the long side.

Funds are withdrawing from altcoins and concentrating into BTC/ETH to defend or launch a local offensive.

👉 Conclusion:

This is not a full-scale shift to being bearish, but a “shrinking of the bulls’ front lines.”

Core assets (BTC/ETH) still have funds looking bullish.

But altcoins have been surrounded by the bears first. If BTC cannot hold its ground next, the market may accelerate deleveraging.

🔍 Short-term strategy suggestions:

· Be cautious when trying to catch bottoms on altcoins—bears are controlling the market

· For BTC/ETH, monitor whether the bulls can hold key support levels

· Watch out for needle-like liquidations, and control leverage

This article is an original analysis by “Ha’er H”.

For queries of on-chain data of other tokens.

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