1.61 billion yuan worth liquidated, and the market doesn’t spell the end of the world—though the direction is being very honest.

In this CoinAnk dataset, over the past 24 hours, the total liquidations across the web were about $161 million: long positions about $118 million, and short positions about $42.91 million; Bitcoin about $54.88 million, and Ethereum about $37.89 million.
What does that mean?
The market isn’t just blindly rewarding bearish sentiment.
It’s first clearing out the people trying to catch the rebound.
In many cases, the bottom isn’t called out—it’s when leverage gets flushed once, and then you see whether real spot buyers actually step in.
So don’t rush to slap a label on the direction.
First, after the longs have been wiped out, see whether genuine buying orders come back.
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