Doge leads losses because profit from selling at BTC, ETH, Sol, XRP
The cryptoma markets covered a wave of profit treatment and risk-averting trading activities late Monday, with Long traders being liquidated within 24 hours for over $ 406 million.
Another 269 million US dollars came from losses on the short side, which increased the entire liquidation amount to $ 675.8 million and marked one of the heaviest sales since April.
The hardest blow hit Bitcoin
-Long positions in which compulsory liquidations of over $ 333 million were recorded, followed by ether (ETH) With $ 113 million and XRP with $ 36 million. Solanas Sol and Dogecoin were also hit and lost around $ 14 million each.
Dogecoin was the worst main actor and fell over 7.6 %a day because speculative exaggerations evaporated. BTC and ETH also sank by 3.1 % and 2.6 % and cooled down after a rally almost a week.
The largest individual liquidation took place through a BTC/USDT long position worth $ 98.1 million on Binance, according to the liquidation tracker Coinglass.
Even if Bitcoin is traded near record heights, some merchant tables take a step back from the euphoria. Derivative flows indicate that retailers are not in a hurry to chase up the upward trend, and increased financing rates are increasingly making raven -based bets.
There is expectation that the markets could need a breather after an overheated phase.
With BTC in undeveloped terrain, short-term highs remain unclear, “wrote QCP Capital in a customer notification.” The financing rates are increased, and the memory of the liquidation event in February in the amount of $ 2 billion continues.
According to QCP, option data is a picture of careful optimism. While the implicit volatility of short-term options is slightly increased, it is still significantly below the average of 2023. Risk reversals for September and December still prefer call options, which indicates a longer-term buying mood, although retailers are at short notice to pursue upward trend.
Meanwhile, some analysts remind the dealers not to confuse Momentum with inevitable. Increasing institutional demand and macroeconomic changes are undeniably fuel the rally, but at the same time increase operations.
“The way to $ 150,000 until the third quarter appears increasingly realistic, driven by inflows in ETFs, offer bottlenecks and macroeconomic tail winds such as a weaker dollar and potential interest rate cuts of the Fed,” said Ryan Lee von Bitget in a message to Coindesk.
“The path to $ 150,000 by the third quarter appears increasingly plausible, driven by shortage of offer and increasing institutional demand. Nevertheless, this is not one -way street. In addition.
