Over $100M in BTC and ETH liquidations signals market volatility and leveraged positions.
Attention shifts to Ethereum as BTC faces resistance at $100k, with sideways movement expected.
MicroStrategy’s ongoing Bitcoin purchases could play a pivotal role in pushing BTC towards $100k.
The crypto market is changing, with Bitcoin and Ethereum experiencing liquidations. Over $100 million in BTC and ETH holdings were liquidated across exchanges within 24 hours, which demonstrates the highly leveraged nature of the market.
Despite the retracement, both assets remain above their support levels of $95k for Bitcoin and $3,200 for Ethereum. However, the market’s attention appears to be turning toward Ethereum in the short term, with projections for BTC to trade sideways until December.
Liquidations and Market Focus
Bitcoin and Ethereum together accounted for over $116 million in liquidations. Bitcoin alone recorded $78.11 million in liquidations, making up a large portion of the $490.54 million liquidated across the entire crypto market. Ethereum followed closely with $38.06 million in liquidations.
Despite the market retracement over the weekend,…
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