$1 billion evaporated into thin air, 170k people were liquidated, and longs were left bleeding. Is this level of liquidation a sign that the bottom is in—or just a downtrend continuation? I think the latter is more likely. Don’t rush to buy the bottom until leverage hasn’t truly failed yet.

Coin World News, Coin Bureau reported that in the past 24 hours, the crypto market saw over $1 billion in liquidations, with more than 178,000 traders liquidated. BTC price fell to $59,175, its lowest level since early June. Long traders bore the brunt of the losses, with losses amounting to $780 million.