Crypto Market Shows Pain and Potential After Massive Liquidation Event: Bitfinex Alpha
Last weekend, the crypto market experienced one of its most dramatic days in history. Bitcoin’s 18% pulldown triggered over $19 billion in liquidations within hours, the largest such event ever recorded. Cryptocurrencies and investor portfolios bled significantly, driving a massive wave of selling in the spot market.
Now that the worst is over, the market is still reeling from the pain and navigating the aftermath of the event. Amid the chaos, analysts at the crypto exchange Bitfinex have stated in their latest report that the market still shows resilience and recovery patterns. Cryptocurrencies may still have the potential to deliver a positive October for investors.
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Crypto Market Shows Pain and Potential After Massive Liquidation Event: Bitfinex Alpha
Last weekend, the crypto market experienced one of its most dramatic days in history. Bitcoin’s 18% pulldown triggered over $19 billion in liquidations within hours, the largest such event ever recorded. Cryptocurrencies and investor portfolios bled significantly, driving a massive wave of selling in the spot market.
Now that the worst is over, the market is still reeling from the pain and navigating the aftermath of the event. Amid the chaos, analysts at the crypto exchange Bitfinex have stated in their latest report that the market still shows resilience and recovery patterns. Cryptocurrencies may still have the potential to deliver a positive October for investors.
Read More