Just noticed BTC dipped below $80K again and it triggered a cascade of liquidations. Around $300M in futures positions got wiped out in the last few hours. Pretty wild to see that kind of volume get flushed when the price moves like that.



The thing is, even with these pullbacks, the overall crypto market recovery narrative hasn't really broken down yet. Yeah, we're seeing some pain on the leveraged side, but the spot market seems to be holding up reasonably well. A lot of traders are probably using this as an entry point if they're still bullish on the recovery.

This is exactly why you don't want to be over-leveraged in this market. One quick wick and suddenly you're watching your position get liquidated. The crypto market recovery can't really gain momentum if people keep getting shaken out like this. Interested to see if we bounce back above $80K or if this becomes a new support level.
BTC0.64%
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