Bearish sentiment in crypto market leads to $138 million wiped out, increasing market volatility

From Investing.com

October 23, 2024 3:00:25 pm:

The crypto market is seeing a shift towards bearish sentiment, with a massive $138 million wiped out in the last 24 hours due to a liquidation wave. Over 54,000 traders were liquidated, with $108 million from long positions and $30 million from shorts. Binance and OKX led in liquidation amounts, with Bitcoin and Ethereum showing mixed performance.

Market volatility persists as liquidations hit major exchanges, prompting concerns about future price stability. Analysts predict increased volatility if bearish sentiment persists, potentially driving prices down further. However, some experts see a corrective phase coming, posing buying opportunities for investors amidst the market turbulence.

Read more at Investing.com: $138 Million Wiped out From Crypto Market