Crypto liquidations hit $610M as longs lose over $500M
- —24-hour liquidations totaled about $610 million
- —Longs lost $545 million, shorts only $63 million
- —Bitcoin funding rate dropped from 7% to below 1%
- —Key downside liquidity sits at $83,000 and $83,100
Why it matters: The leverage reset lowers the risk of a catastrophic cascade, but longs stay exposed to CPI on October 14 and the Fed decision on October 28.
Source: AMBCrypto