CoinJW.com reports:
After reaching a high of $69,546 yesterday morning, “selling pressure started to emerge” for Bitcoin. After falling below $67,000 late last night, it rebounded to near $66,500 around 8:30 am, quickly breaking through the low point of October 17 and washing out many investors.
At the time of submission, it pulled back to $67,296, a 2.46% decrease in the past 24 hours. The upward trend of Bitcoin seems to have been interrupted. Whether this is just a temporary correction or the main players are trying to kill the market when sentiment is high and then pull back closer to the US election, remains to be seen.
Ethereum is even weaker. After reaching a high of $2,769 yesterday, it continued to fluctuate and fall, currently returning to the consolidation zone around $2,640.
In the past 24 hours, the total amount of liquidation across the entire network exceeded $204 million.
During the downturn of Bitcoin, according to Coinglass data, in the past 24 hours, the total amount of liquidation in the cryptocurrency market exceeded $204 million, with nearly 63,000 people being liquidated.
Although the liquidation data has increased compared to yesterday, it is not considered too severe based on historical data, and it is speculated that the volatility may further increase in the future.
Source: Coinglass
On the other hand, although the open interest of Bitcoin contracts on exchanges has fallen from a new high of $40 billion, it is still relatively high overall, and more intense market fluctuations may occur at any time.
