CandleFocus Bitcoin Price Drop Leads to $250M Bullish Liquidations; Crypto Sentiment Indicator Signals Top
2024-11-01
Author: Content Editor
Bitcoin prices have dropped by nearly 4% in the last 24 hours, falling from $72,500 to just above $69,000. This decline has led to a wider market retreat, with the overall crypto market cap decreasing by 5.5%. The Fear and Greed Index, which measures sentiment and volatility in the crypto market, initially indicated "extreme greed" on Thursday, but has since shifted to "greed," suggesting further price corrections may occur. The drop in Bitcoin prices has resulted in over $250 million in bullish bets being liquidated. The majority of futures positions were long, indicating a bullish market sentiment prior to the correction.
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