Long Liquidations Hit $562M in 24 Hours
Most of these losses were in the BTC and ETH markets. However, total long liquidations in other altcoins reached as much as $144 million. The reason is the collapse of Bitcoin’s upward price structure and its sharp decline.
Support was provided by the lower line of the rising parallel channel, which had already been validated (green circles). An additional area of support turned out to be the horizontal level (red line), which had already acted as resistance and support. Thus, Bitcoin’s price structure retains the pattern of a rising parallel channel but has lost its median, which has served as support since the end of July.
Source
https://t.me/DeFi_Ethereum
