Assessing the $19B Crypto Liquidations: FUD or Healthy Reset?
Nearly $19 billion was wiped out in the largest crypto liquidation ever, with longs taking 90% of the hit, triggering a sharp risk-off shift.
The market had previously shown significant growth, with the total crypto market cap reaching a record $4.27 trillion and Open Interest (OI) reaching a record $233 billion.
The market once again showed that “blind optimism” can cut both ways.
This liquidation could be a reality check on prior FOMO, possibly setting up a post-COVID-style rebound.
The market was bullishly pricing in the seasonal tailwind as a key catalyst for a strong Q4, but key macro data went under the radar, pushing blind optimism to a whole new level.
Author's summary: Crypto market faces largest-ever liquidations.
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