Bitcoin and Ethereum Hit by $500M Liquidations as Whales Dem Sabi Make Dem Buy Di Dip
One sharp crypto market correction on Monday trigger almost $500 million liquidations for big tokens, shake over 115,000 traders. Bitcoin (BTC) drop near $115,000 and Ethereum (ETH) near $4,200 support zone as high leverage force cascade selling. Altcoins like Solana (SOL) and Dogecoin (DOGE) fall 4-5%, while XRP test $3 and Chainlink (LINK) go against trend with 5% gain.
Ethereum longs dey face “liquidation cliff” near $4,170, where about 56,000 positions worth $236 million dey risk. Other clusters around $3,940 and $2,150 fit bring more volatility. Analyst Andrew Kang warn say ETH fit drop to $3,600 and see up to $5 billion in total liquidations if the cascade continue.
Despite the sell-off, some believe say whale dey accumulate. Crypto analyst CrypNuevo talk say one whale absorb plenty forced selling, buy BTC for discount. If true, this dip fit set springboard for next rally as leveraged positions reset and selling pressure slow down. Traders make dem watch if Bitcoin hold $115,000 and Ethereum hold $4,200 to check market stability.
Bearish
Di big $500 million dem wey liquidate show sey di exposure na leverage high no be small and say person dem force to sell, dis kain tin be sign wey e show say market fit go down first before e fit recover. Past liquidations - like di crash wey happen May 2021 - make deep corrections happen before big big players start to collect their positions. Even though di whale buying fit help reduce di fall, di immediate effect still bearish until di key support levels like $115,000 for BTC and $4,200 for ETH strong. Traders suppose expect say volatility go high and fit get more decline short term, but di market fit turn bullish only when di selling pressure stop and all leverage position don reset.