With nearly $500 million in liquidations, eliminating all overleveraged positions, the cryptocurrency market is undergoing another aggressive deleveraging phase. According to data, about $492 million has been liquidated in the last 24 hours alone, with long positions bearing the brunt of the losses. This imbalance is significant because it shows that the market was overly optimistic prior to this move.

Main attack vectors

This unwind revolves around Ethereum and Bitcoin. After