Longs Carted Out
Wipe-out! Trump tweeted about tariffs with China, and markets have puked in a big way. The Bitcoin price is back within The HODLers Wall, and billions in leveraged long position have been carted out.
G’day Folks,
Trump tweets, and the whole market sells-off going into the weekend.
Very on brand for 2025.
Amidst an extremely sharp sell-off which wicked down as far as $105k on some exchanges, we have seen the largest long-liquidation event so far this cycle. A true 2-sigma decline in futures open interest, and the price has broken below the Short-Term Holder cost basis at $114k once again.
More than half of all the USD invested in Bitcoin is underwater at $105k, so this sell-off has the potential to get nasty if the bulls don’t step in.
Today’s flash update video looks at the magnitude of the futures deleveraging which has occurred, and then overlays the damage done to The HODLers Wall, to see if we can get a read on how serious this sell-off is.
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