Quick Take
Due to the fallout of SIlvergate Capital and possible further contagion in the bank and financial sector. As a result, Bitcoin went below $20k and saw over $320 million of liquidations in crypto, while Bitcoin saw $120 million of liquidations. Futures’ long liquidation dominance shows the market was extremely long which shows the number of investors that were caught offside.
Liquidations: (Source: Coinglass)
Futures Long Liquidation DOminance: (Source: Glassnode)
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