Originally Posted by todservices

“Liquidation” doesn’t mean what you think it means. Spot holders don’t get liquidated. Only people using leverage can be force-closed. If you just own Bitcoin, nothing gets liquidated no matter how far it drops.

Saying “liquidation just started” is simply wrong. The heavy liquidations happened during the drop from around 120k to 100k. That’s where most of the overleveraged longs got wiped out.

At this point, the majority of forced liquidations have already happened. Rough estimate: about 80% of what could blow up already did. Pretending the process “just started” is clueless.