Massive Crypto Liquidation Wave Slams Traders Overnight — TradingView News
A sharp rise in crypto liquidations is sending a louder message of how some traders are using more leverage in recent months.
Average daily wipeouts have jumped from roughly $28 million in long bets and $15 million in shorts during the last cycle to about $68 million long and $45 million short in the current cycle, according to a new Glassnode and Fasanara report. That shift has made single sell-offs much more violent.
Early Black Friday Shock
Reports have disclosed that Oct. 10 was the clearest sign of the change. On that day, more than $640 million per hour in long positions were liquidated as Bitcoin plunged from $121,000 to $102,000.
Open interest fell about 22% in less than 12 hours, sliding from close to $50 billion to $39 billion….
