Bitcoin just surged +$3,000 in 1 hour and reclaimed $90,000 as $120 million worth of levered shorts were liquidated.
Minutes later, $200 million worth of levered longs were liquidated, with Bitcoin now down to $85,000.
That’s a $140 BILLION swing in market cap in under 2 hours.
Leverage is out of control.
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$BTC You can’t make this up:
Bitcoin just surged +$3,000 in 1 hour and reclaimed $90,000 as $120 million worth of levered shorts were liquidated.
Minutes later, $200 million worth of levered longs were liquidated, with Bitcoin now down to $85,000.
That’s a $140 BILLION swing in market cap in under 2 hours.
Leverage is out of control.