The market has started bleeding again.

According to the latest data from a certain exchange, ETH has fallen below the $2800 mark and is currently hovering around $2743, down nearly 10% in the last 24 hours. The situation for BTC is also not optimistic; after losing the $85000 level, it is now quoted at $84113, with a daily decline of over 8%.

The situation is even worse for futures traders. According to Coinglass statistics, the total liquidation amount across the network reached $929 million in the past day — this figure is quite shocking. Long positions were liquidated for $858 million, while shorts only lost over $71 million. It seems this drop has caused significant losses for those chasing the rising prices, a typical case of long liquidation.

ETH3.07%

BTC1.74%

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StablecoinEnjoyer

· 12-01 16:19

It's this trap again, 900 million Get Liquidated, still those chasing the price getting played for suckers.

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AirdropHunter007

· 12-01 16:17

929 million Get Liquidated, this wave is again the rhythm of Be Played for Suckers, long positions are being rubbed on the ground.

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ForkMonger

· 12-01 16:12

multi getting absolutely rekt while shorts print money... classic governance failure in price discovery mechanisms, honestly. market structure's broken when leverage becomes the only real value driver ngl

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AirdropHuntress

· 12-01 15:55

929 million Get Liquidated, this data seems off, need to see who is dumping. Is it another round of killing the longs? It indicates that someone is deliberately engaging in shorting. Historical data shows that every time there's such a fierce pullback, capital is laying out plans behind it, need to follow the actions of these several Wallet Address. Greedy people have been played for suckers again, as it should be.

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MetaReckt

· 12-01 15:54

Here we go again, the leveraged traders must be crying. --- 900 million just vanished, this is the price of chasing the price. --- I knew it would be like this, I’ve been in a short position to avoid it. --- More killing more? No, this is called the suckers harvesting machine starting up. --- I didn’t even dare to buy the dip when ETH fell to 2743, it’s going to fall further. --- Every time they say the bottom is in, but then comes a new low, it’s really absurd. --- Is there any of my frens among that 800 million getting liquidated? Hahaha. --- One contract and it’s back to square one overnight. --- Once 2800 breaks, I knew there was no saving it. --- Short positions made 80 million and still feel like they lost, long positions were directly bankrupted.

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