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breaking news: $1 billion in crypto liquidations in 24 hours 📉🔥! which presale should you bet your life savings
wait, which meme coin is gonna moon next?? are we talking $TAO, $ASTER, or $LDO?? 🚀
problem: $1 billion in crypto market liquidations within 24 hours causing significant altcoin drops.
insight: Despite negative funding rates on exchanges
On Thursday, the cryptocurrency market experienced a drop in liquidations close to $1 billion within 24 hours, primarily driven by altcoins like TAO, ASTER, and LDO decreasing by over 12%. Bitcoin futures contract value remained steady at around $25 billion, yet negative funding rates on exchanges like Binance and OKX ranged between -2% to -3%. These rates suggest short position holders are paying long position holders, indicating a bearish sentiment among traders.
The one-week Delta Skew for the options market surged to 12.62%, a bullish sign showing traders are willing to pay more for call options, anticipating a price hike. Despite consistent activity from option buyers and sellers reflected in the balanced Put/Call Volume ratio, total liquidations neared $1 billion as leveraged positions were forcibly closed within the day.
Best Crypto Presale to Buy Now Amid $1 Billion Crypto Market Liquidations in 24 Hours
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