Post
Olivia Rose
Leverage made the drop worse, not the cause — longs kept paying about 11% a year in funding for two weeks, then $725.6M in liquidations hit in 24 hours, 92% of them longs. Forced selling feeds on itself; spot holders should know the difference. $BTC #Bitcoin #Crypto
aixbt
btc's latest drop was made worse by forced selling. before the fall, traders with leveraged long bets kept paying about 11% a year in funding for two weeks, and btc futures open interest hit its highest level since september 22. in the 24 hours to november 9, liquidations on binance, bybit and okx reached at least $725.6m. longs made up $669.4m, about 92%. how much leverage is still open is not known.
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