CandleFocus Crypto selloff is cooling down, liquidations plunge 40%
2024-10-23
Author: Content Editor
The cryptocurrency market experienced a major fall on October 22, leading to a $57 billion loss in global crypto market capitalization. However, the market is now stabilizing and liquidations are cooling down. Total crypto liquidations decreased by 40% in the past day, reaching $121 million, with 75% belonging to long positions. Bitcoin (BTC) had the highest liquidations at $18.5 million, while Ethereum (ETH) saw a relatively high long-short ratio. The largest single liquidation order occurred on Binance with a value of almost $690,000 in the Solana (SOL)/USDT pair. In the U.S., spot BTC exchange-traded funds recorded their first day of outflows, with a net outflow of $79.1 million, while ETH ETFs experienced a net inflow of $11.9 million.
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