NASDAQ 100 FALLS 0.8% AFTER TRUMP CHINA COMMENTS
Trump: I was to meet Xi in two weeks. Now there seems no reason to do so

JUST IN: $200,000,000 liquidated from the cryptocurrency market in the past 15 minutes.

@WatcherGuru

BREAKING: The S&P 500 extends losses to -2% on the day, now on track for its biggest daily drop since April 21st.

The S&P 500 has now erased -$2.1 trillion over the last 2 hours. https://t.co/X4dgDU4bEG
(@TheKobeissiLetter)

definitely hurts taking a drawdown and round tripping stuff, but i’ve tabled enough to reduce my mental and emotional strain (how i learned the lesson: https://news.1rj.ru/str/cryptomumbles/10870)

all that matters to me now is that i want to be an asset owner (both equities and crypto)

because if i don’t, i will be left behind

might touch grass for abit just to make sure i don’t make unnecessary moves, but also plan to allocate my remaining stables in the dip

might be tempting to onramp to take advantage of the dip in the melt up

but “Newton re-enters with a lot” is not a good move

take care!

POLYMARKET LOOKING TO RELEASE THEIR NATIVE TOKEN AFTER IT FULLY ENTERS US MARKETS, ACCORDING TO SOURCES: DECRYPT

🔗 velo.xyz

woke up to some crazy liq

last i saw this was 2021 for sure

perps positions completely wiped

nothing unmanageable, just a big shock for me

i hope everyone is fine and take some time off if you need 🙏🏼

a few coins went to zero

https://x.com/ReetikaTrades/status/1976864779844436038

When the market turns like this, there’s usually a pretty straightforward playbook for the aftermath.

1) Market bleeds out and MMs are offline and start refilling by first taking out big spot and perp arbs on assets.

2) Once exchanges and API feeds are back online, market makers and big traders start biting on big orders to bring the market back to equilibrium.

This is met with liquidation orders being processed. Liquidation orders are processed at the top of the exchange order queue so it’s very juicy to pick off if you have balance sheet.

Given the size of this liquidation (~$25-$40bn) it will take a while to chew through this.

3) Once dealers fill long they will start unwinding spot and perp when the market is back to equilibrium. This is when the market hits a local maxima and the Dalai Lama chart starts hitting.

Some assets that have tighter supply will look better than others.

4) Dealers unwind over the next 24-72 hours depending on the liquidations and the market absorption. This is generally harder on weekends because no ETFs.

5) Market finds a natural floor and ceiling and starts a new anchor

Note: this is assuming that the market’s headline risk has mostly subsided. In the case this isn’t true, there is a lot more room for pain depending on leverage ratios.

Cobie Reflects on Severe Altcoin Liquidations, Urges Focus on Conviction Over Leverage and Momentum

Source: https://x.com/cobie/status/1976788855006302686

🎢🧨 #BTC CQ: Trump was the catalyst, but leverage is the real fragility underneath it all.

Altcoin OI: -28.58B (-41%)
Bitcoin OI: -10.69B (-24%)

This is a Covid-19 style wipeout.

MORE THAN $19 BILLION IN CRYPTO POSITIONS LIQUIDATED IN THE LAST 12 HOURS

*The largest single liquidation order happened on Hyperliquid - ETHUSDT value $203.36M

*$10B+ liquidated on Hyperliquid
*$4.5B+ liquidated on Bybit
*Binance reported only $2.5B in liquidations

*The actual total is likely much higher as Binance  only reports one liquidation order per second: CoinGlass

Some Estimates suggest between $30B to $40B has been liquidated