Generated Title: Crypto's Billion-Dollar Bloodbath: Just Another Monday?
So, here we go again. Another day, another billion-dollar crypto liquidation. You'd think these "traders" would learn, right? Apparently not.
Bitcoin got smacked down from $112,000 to under $106,000, and poof, $1.27 billion gone. CoinGlass says it was mostly "longs" – meaning people betting the price would go up. Color me shocked. Seems like about 90% of the total liquidations were from these optimists getting their faces ripped off.
$1.14 billion in bullish bets, just gone. Shorts only lost $128 million. You know what that tells me? The house always wins. Always.
And get this: the biggest single liquidation was on HTX, a $33.95 million BTC-USDT long. Thirty-three million dollars! Someone's having a bad day. Or year. Or life.
Hyperliquid, Bybit, Binance... the usual suspects are at the top of the leaderboard for forced closures. It's a freaking casino.
Oh, and Solana? Down over 8%. But hey, don't worry, their "total value locked" is over $10 billion! And they haven't had any outages in a year. That's great, I guess. It's like saying your car's engine is perfect, even as the wheels are falling off. According to Key facts: Solana's price drops 8% amid market decline; TVL exceeds $10B, Solana's price dropped 8% even as its TVL exceeded $10 billion.
They're trying to distract you with the shiny objects. "Look over here! Everything's fine!" Give me a break.
Open interest is still near $30 billion, and funding rates aren't moving much. People are "wary" of volatility before the Fed's next move. Wary? They should be terrified. This isn't "volatility"; this is a controlled demolition.
It's all one big game of musical chairs, and when the music stops, a lot of people are gonna be standing. Or, more accurately, broke.
But hey, ETH and Solana liquidations topped $300 million. So at least they're sharing the wealth... of pain. BTC, ETH, XRP , SOL News: Traders Lose Over $1B in 24 Hours as Longs Get Crushed confirms that over $1 billion was liquidated in 24 hours.
Are we really supposed to believe that these "clearing moments" actually reset the market? It feels more like a transfer of wealth from the naive to the sharks.
It's a rigged game, plain and simple. The whales manipulate the market, the exchanges profit from the liquidations, and the average Joe gets rekt. And offcourse, the "experts" will tell you to "buy the dip." Yeah, right. Buy the dip so the whales can dump on you again? I'll pass. Maybe I'm just too cynical for this whole thing.
