BLOOD ALL OVER ETHEREUM TRADERS

Hundreds of Millions of dollars LIQUIDATED

ETH BLOOD BATH

This one is nasty and proves that shorts and longs
X10 x100 can be a way to lose x10 times or x100 times faster ... this blood bath was on 79% of traders , literally tens of thousands all betting for shorts

💠♾️💠♾️💠♾️💠♾️💠♾️💠

When it was easy to see it was the wrong move since the fork POW is bringing more investors for new airdrop coins .
This was a huge manipulation in the market to kill the ones who dont pay attention and only follow the crowd , a crowd that was working to kill .
Beware of who you follow , most people dont know what the heck they are doing in trading .
Most people pay to have it served while pretending to learn but no one will give it you so easily and maybe 0.10% of traders really make it .
The 79% were surely following and paying influencers
Who probably bet on longs ...( or they need to change job )
it was a rough lesson for many .
Ethereum had entered a period of reversal after hitting $2,000 following the announcement of the date for the Merge. Since then, the digital asset had trended around $1,400 to $1,500 for a while. However, in the last day, Ethereum has seen significant momentum and demand, which has sent the price of the digital asset soaring. It finally broke above $1,600, leaving a trail of blood for traders who had bet against the cryptocurrency.
Same for BTC

💠♾️💠♾️💠♾️💠♾️💠♾️💠♾️💠

Ethereum Traders Lose hundreds of Millions !

Traders had bet massively against the price of Ethereum due to the decline in price. This quickly changed when the price of the digital asset went on another recovery trend. This time around, Ethereum’s price had quickly broken above $1,600, and tens of thousands of short traders were liquidated.

Data from Coinglass shows that thousands of traders were liquidated for more than 73,000 ETH in the last 24 hours alone!
This came out to more than $115 million already liquidated in the last day.
The vast majority of these liquidations came from short traders who had been betting against the market at a rate of 78.75%.

💠♾️💠♾️💠♾️💠♾️💠♾️💠♾️💠

Ethereum also saw the largest single liquidation for the last 24 hours after a position of $1.98 million was liquidated on the ETH-USDT-SWAP on the Okex crypto exchange.
The majority of ETH liquidations had also been recorded on the crypto exchange, with 59.35% !

In total, more than $88 million in Ethereum shorts were liquidated, while only $23.87 million were long liquidations. It had also spilled out into the perpetual contracts with futures and options, where around $300 million had been closed in the span of one hour.

Getting Better Ahead Of Merge

The interest in Ethereum has no doubt surged significantly since the announcement of the Merge date. The initial hype had been what pushed Ethereum to the $2,000 level before the drawdown. Now, as the Merge draws closer, interest is starting to build once more, and this has pushed it above $1,600.

One interesting push behind the price recovery has been the accumulation of coins to get the forked tokens. A small group of developers had announced that they were planning to fork the Ethereum blockchain and keep it running on the proof of work mechanism.

💠♾️💠♾️💠♾️💠♾️💠♾️💠♾️💠

The tokens from the fork will be sent to all current holders of ETH, and given how the BCH and other hard forks had gone in the past, investors are looking forward to taking advantage of this opportunity. With this trend, the number of wallets with 1,000 ETH on their balance had hit a new 15-month high.

ETH is currently trending above $1,600. With established support just above $1,590, the digital asset looks ready for another bounce.

Yet two days ago you could read this :

Ethereum network’s large wallet investors are betting on ETH price drop to the $400 level via put options.
An order has been placed for 26,000 ETH put options with a strike price of $400; the options expire on June 30, 2023.
ETH price needs to break past resistance between the $1,300 and $1,400 levels to break out of its downtrend.
Ethereum, the second-largest asset by market capitalization, is at risk of decline. Based on options data, ETH will likely plummet in the first half of 2023. Analyst retains their bearish outlook on the asset.
LOL ?
It is all manipulated.
Another Bearish time is coming on BTC and Alts

💠♾️💠♾️💠♾️💠♾️💠♾️💠♾️💠
Congratulations to all who bet on longs or just hodled
Some infos from Huobi.com and FXstreet.com

Have a great day 👋🏻