"500 million Get Liquidated? Don't worry, this is the bull run giving long positions some "freedom"."

July 24, 2025

Yesterday, the market had a little trick up its sleeve — Ethereum briefly dipped to around 3500, and Bitcoin almost touched the 117000 mark. Several mainstream assets saw a pullback of between 5% and 10%. The contract market was even more vibrant, with over 500 million evaporating in an instant, of which 380 million came from long positions. This wave of operations is clear to anyone paying attention: it’s nothing more than washing out the bulls who were frantically chasing the rise, creating some space for the subsequent upward attack and gathering momentum.

Experienced players know that the sharp declines during a bull run often hide secrets. The contract Get Liquidated volume is a good observation window—based on my practical experience, past bull run peak warnings usually occur when the single-day Get Liquidated volume exceeds $1.5 billion (approximately 10 billion RMB). However, the crypto market has grown larger now, so I have raised this warning line to $1.5-2 billion.

Of course, it doesn't mean that touching 1.5 billion will immediately turn downwards; sometimes it will instead lead to a stronger rebound. However, if there are continuous 2-3 occurrences of hundred billion-level Get Liquidated, then it will be time to sweat a little – the peaks of previous bull runs were basically hidden after this. Looking at yesterday's 500 million Get Liquidated volume, it's clearly less than a third of the warning line, which is obviously a normal "bath" in the early stages of a bull run, cleaning up the floating positions, and the market will soon regain its upward momentum.

Nowadays, when people say the market is in a bull run, probably over 90% of investors would raise their hands in agreement. However, the most crucial aspect in a bull run is not chasing the rise, but rather escaping the peak — this needs to be thought about in advance. In the following article, I will intersperse some techniques and indicators for escaping the peak, so everyone can pay attention.

A few days ago, we talked about the market capitalization ratio of Bitcoin (BTC.D), and many people asked about it. To put it simply: you can search for BTC.D on TradingView to view the chart, or go to the Coinglass homepage and click on "Bitcoin Total Market Cap Dominance" at the top to quickly find it. How exactly to use it?

Finally, I want to say that most cryptocurrencies will take another step up during a bull run, but how high they can jump depends not only on the market's movements and the amount of market capital but also on whether the major players are willing to lift the prices - so it’s really hard to guess the price of individual coins. However, the principle is simple: as long as you can gauge the pulse of the market, especially if your judgment on Ethereum is about 80% accurate, you will have a good idea of how to operate with altcoins: in the early stages of a bull run, it’s fine to hold onto some altcoins; when it’s truly time to take profits, whether it’s mainstream or altcoins, you need to clear them out completely.

Thank you all for your attention and likes, let's continue to move steadily in the bull run!
#山寨季来了？#