Crypto Market Faces Major Crash,Liquidations Surge
The crypto market is experiencing a meaningful downturn. Recent liquidations have wiped out over $540 million. Both major tokens and smaller altcoins are suffering losses.
The decline follows a $19 billion crash on October 10. Total liquidations in the past 24 hours surpassed $540 million. This affects both major tokens and smaller altcoins.
Several factors are driving this bearish trend. Regulatory warnings from the G20âs Financial Stability Board are a key issue. The board highlighted âsignificant gapsâ in crypto market regulations.This could harm global financial stability.
Mass leveraged liquidations earlier this week also play a role. On October 10, the market lost over $19 billion in crypto derivatives. This triggered margin calls and left the market on edge.
Macroeconomic and geopolitical tensions are adding to the problem. The U.S.-China trade standoff has rattled global markets. Investors are shifting away from risky assets like cryptocurrencies.
Smaller altcoins have been hit the hardest. ASTER,for example,has dropped over 12% in the past 24 hours. ZEC and LDO have also seen significant declines.
Major tokens like Bitcoin and Ethereum are also suffering. Bitcoin has dropped slightly by 0.8% in the past 24 hours.Ethereum is barely holding onto the $4,000 level.
Despite some modest gains in the past hour, the overall outlook remains bearish. The market has
