Total liquidations exceed 100 million USD, Bitcoin stands at a critical crossroads
Both long and short sides of Bitcoin face a critical showdown. Can the Federal Reserve's interest rate cuts and historical seasonal patterns help push cryptocurrency out of the 'Moonvember' trend? In the past 24 hours, the cryptocurrency market has undergone a bloody cleansing again. According to Coinglass data, the total liquidation amount across the network reached 110 million USD, with 83,075 people becoming victims of leveraged trading. Among them, the bulls and bears are almost evenly matched, with long liquidations at 56.3896 million USD and short liquidations at 53.5471 million USD. In this double kill of longs and shorts, Bitcoin and Ethereum are at the forefront. Bitcoin long liquidations amounted to 3.5514 million USD, while short liquidations reached 5.4321 million USD; Ethereum long liquidations totaled 5.8473 million USD, and short liquidations were 5.1109 million USD.