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Spartan1
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370M liquidations in an hour isn't "support failing" — it's a cascade. When longs burn, levels get skipped.
2695 → 2587 in 20 minutes, volume jumped from 40k to 3.45M. That's not sellers — that's stop hunting.
If ETH doesn't reclaim 2650 soon, expect 2500. If it does, it was just a shakeout.
Who caught the cascade, and who's sitting in liquidation?
垚淼
370 million liquidated in one hour
Is the last day of National Day this intense? It directly smashed through the box that had been shaking for half a month. Earlier posts still said 2700 could hold for a few more days, but in the blink of an eye, it was smashed through. Even the given level directions were smashed through, fortunately on the positive side.
In this one hour, 370 million USD was liquidated across the entire network. ETH accounted for 136 million, BTC accounted for 102 million.
On OKX, ETH positions dropped by 72.6 million USD, 4.47% — these positions were not closed by walking away, but forcibly liquidated.
From 2695 smashed down to 2587 in about twenty minutes, a drop of 108 points. The 5-minute trading volume jumped from 40,000 contracts to 3.45 million contracts.
ETH fell 3.64% in 24h, BTC fell 2.21%, ETH/BTC smashed down to 0.031, a new low.
Today the word "support" is worthless. $ETH
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