Markets· ★★★· bearish·

Coinbase: 64% of net BTC longs opened above current price

  • —Largest net BTC long cluster opened at an average of $81,993
  • —64% of net long notional sits above the current spot price
  • —$481.25 million liquidated in 24 hours, 72% longs; BTC accounted for $95.06 million
  • —BTC 25-delta skew: 11.3% for 1 day and 10.8% for 1 month
Why it matters: A failure to reclaim $81,993 could deepen losses on leveraged longs and add selling pressure; a return to that zone would ease some of the strain.
#BTC
Source: Coin Türk
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