$1.1 billion in liquidations occurred across centralized exchanges in the past 24 hours, marking the largest daily crypto liquidation since December 2021.
$815 million came from long positions.
$280 million from short positions.
Discussion
Nice to see rich folks get rekt.
Onwards!
Hell of a day for sure.
Love see'n 'em get rekt. Too bad most of that is going to the shirts.
Dumb question, who ends up with the bitcoin in these liquidations?
If a long is liquidated then the short position(s) get the coins, essentially.
Don’t these traders stop to think maybe their open order/stop loss information is accessed by naughty people to whip them out of their $$?
Large proportion of these degens can’t be trading their own money.
Stay humble and stack sats.
Gotta stay humble. LOL
FAFO
STAY HUMBLE AND STACK ZAPS
Wow! I’m staying in the bitcoin echo chamber. It’s a safe space
The true way to gain Bitcoin, is thru Proof of Work. You worked. You got Paid Dollars. The Dollars lost some value before you spent it, (sorry about that). You bought Bitcoin with what you had left, (good for you). You satisfied Proof of Work to obtain it. Traders however try to gain Bitcoin by playing a game of Wack a Mole. They Trade in and out of the Dollars in an attempt to get more Bitcoin from the Trading. That’s not Proof of Work. That’s a game of chance and luck. Don’t play that game. You’ll get eaten by the Whales. Buy with your Proof of Work, and Hodl to prosperity.
Seems to be an endless supply of degens ready to get burned 🤦🏻♂️