#BinanceBlockchainWeek Recently, the market endured one of its largest single-day liquidation events this October. On October 23, crypto assets saw liquidations totaling $261 million, driven primarily by Bitcoin's price drop, which impacted other major assets like Ethereum. Ethereum saw over $77 million in long bets liquidated, leading to a 1.7% drop in value as high transaction fees dampened some investor enthusiasm
Despite this volatility, institutional interest remains strong. U.S.-based Bitcoin ETFs experienced positive inflows recently, reaching nearly $2.7 billion from October 11 to 21 before a slight downturn. These ETFs, particularly BlackRock's iShares Bitcoin Trust, have added stability and growth prospects to Bitcoin's valuation【internet】.
Additionally, the broader market outlook is somewhat optimistic for leading assets like Bitcoin and Ethereum. Many analysts attribute this potential resilience to factors such as supply constraints and the growing appeal of decentralized applications, particularly on Ethereum-compatible chains【internet】.#CryptoMarketMoves #CryptoPreUSElection $BTC