Daily crypto liquidations have nearly tripled this cycle, with futures wipeouts rising to $68 million long and $45 million short. On Oct. 10, $640 million per hour in long positions were liquidated as Bitcoin dropped from $121,000 to $102,000. Bitcoin spot volume has doubled, reaching $22 billion daily. Open interest in futures markets hit a record $67.9 billion.

Bitcoin’s price discovery has shifted towards the cash market, with leverage increasingly built into futures. Capital flows to Bitcoin have ranged from $40 billion to $190 billion monthly, with realized capitalization reaching $1.1 trillion. Bitcoin is becoming institutionally anchored and structurally mature. The Bitcoin network processed $6.9 trillion in transfers over the past 90 days, surpassing Visa and Mastercard. Around 6.7 million BTC is now held across various institutional platforms.

Read more at Cointelegraph: Daily Crypto Liquidations Nearly Triple as Leverage Overheats This Cycle