Nearly half a billion dollars in bullish crypto bets were liquidated as the market reacted negatively to geopolitical pressures, signaling potential market volatility.
Large-scale liquidations, such as the over $450 million seen recently, highlight extreme market conditions and may suggest a turning point due to overreactions to events.
Despite the liquidation wave, 86% of all futures bets were still bullish, illustrating traders' strong conviction in BTC's potential price recovery and traditional October trends.
Market conditions influenced by geopolitical events like missile strikes in the Middle East sparked significant price declines, challenging the expectations set by historical bullish behaviors.
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