#BTCNextMove Nobody was ready for bad news: Crypto liquidations hit $1 billion.
A cryptocurrency analyst claims that we have not yet seen the “Santa Claus rally” that the market was expecting after $1 billion was liquidated on crypto markets in just 24 hours.
More than $1 billion has been liquidated on the cryptocurrency market over the past 24 hours as market participants were surprised by the strong momentum of cryptocurrencies over the past 30 days.
However, the analyst suggests that the market decline could be short-lived.
“We have had such a bullish narrative for the past month that the market was completely unprepared for bad news. Now we are seeing indiscriminate selling,” Pav Hundal, lead analyst at Swyftx, told Cointelegraph.