$666M liquidated in 24 hours, 85% longs
- —Liquidations over 24 hours totaled $666 million
- —Longs lost $568 million — more than 85% of the total
- —Shorts closed for only $98 million
- —Liquidations affected about 115,000 accounts
Why it matters: The mass wipeout of longs points to a sharp price pullback and an overextended market on long positions.
Source: Coinotag