As we dive in here, I guess to the first story, we can just go ahead and do show you what is happening in the market.
Of course, liquidations near 1 billion as US, Iran exchange fire.
Now, I I think the mechanics of that are interesting and we'll get into it, but let's just talk about exactly what really happened here on this flush.
We have 958.8 million in total liquidations over 24 hours across 167,706 traders.
That's a lot of people getting their entire accounts liquidated on these small moves. I do not understand how we have that many degenerates left with that much money who don't even use a stop loss and get liquidated. But that's a story again, for another day.
897 million of that was longs. Of course, these are the overnight ones. so these will likely compound as price continues to drop.
93% of the wipeout was longs. What blows my mind is that 7% of that wipeout are people who somehow were using high enough leverage to get liquidated when they were short.
How does Bitcoin drop a few percent and you lose all your money when you're short and you're right. It's just how bad people are and how much leverage they're using.
So, of course, we had Bitcoin liquidations roughly 386 million, ETH liquidations 246 million and quite a few others across the board.