Crypto Bulls and Bears Both Lose $300M as #Bitcoin Hits $113K, Then Crashes.
overnight loss is the follow-up to its brief recovery attempt late last week and is symptomatic of how tenuous sentiment remains as it enters the homestretch of October.
#Bitcoin pushed above $113,000 temporarily before giving away most of the gains to cause huge liquidations in the crypto market.
Over $657 million of leveraged positions were liquidated, split approximately half-and-half between long and short positions.
The total crypto market lost 2.5%, with major tokens like Ether and Solana also trailing losses.
two-way price action is compressing both leveraged bull and bear plays, indicating challenging market conditions for traders.