3 Altcoins Facing Major Liquidation Risks in the First Week of January
BeInCrypto
Ethereum, Bitcoin Cash, and Pepe face significant liquidation risks this week due to high leverage and approaching resistance levels.Summary
Despite positive market sentiment returning in the first week of January, several altcoins exhibit derivatives data suggesting major liquidation risks. Ethereum (ETH) shows bullish on-chain activity but its estimated leverage ratio is at an all-time high, warning that a drop to $2,800 could trigger over $5.8 billion in long liquidations. Bitcoin Cash (BCH) is near strong resistance at $650, and its open interest is at a record high; a fall to $570 could liquidate over $80 million in longs. Finally, meme coin Pepe (PEPE), despite recent gains, faces potential profit-taking and an expected Elliott Wave correction, with over $15 million in long liquidations possible if the price drops to $0.00000613.
(Source：BeInCrypto)