#Coinglass
CoinGlass (coinglass.com) is one of the most popular data analytics platforms for cryptocurrency derivatives.
If you're trading Bitcoin or altcoins—especially using leverage—this is essentially your "weather report" for the market. Here is a breakdown of what it’s used for:
Key Features & Data
Liquidation Data: This is what they are most famous for. It shows you exactly how many "Longs" or "Shorts" were wiped out in the last hour or day. Traders use this to see if the market is over-leveraged in one direction.
Open Interest (OI): It tracks the total number of outstanding derivative contracts. High OI combined with rising prices usually means a strong trend is forming.
Long/Short Ratio: This tells you the sentiment of the "big players" vs. retail traders. Are most people betting the price will go up or down?
Funding Rates: A crucial metric for perpetual futures. If the funding rate is high and positive, long traders are paying shorts (bullish sentiment); if it's negative, shorts are paying longs (bearish sentiment).
Grayscale & ETF Tracking: They provide real-time updates on institutional holdings, like how much Bitcoin the Grayscale Trust or the Spot ETFs currently hold.
Why Traders Use It
Instead of just looking at a price chart, traders use CoinGlass to see the "engine" under the hood. For example, if the price of Bitcoin is dropping but liquidations aren't happening yet, a trader might wait for a "liquidation flush" (a sudden sharp drop) before buying.
Pro-Tip: The Heatmap
Check out their Liquidation Heatmap. It highlights "price zones" where a massive amount of liquidations are sitting. The market often acts like a magnet, moving toward those zones to "hunt" that liquidity.