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Crypto liquidations top $1.1 billion as bitcoin enters “corrective phase”
Total liquidations in the crypto market exceeded $1.1 billion on Thursday, sparing no tokens, and prompting Glassnode analysts to say bitcoin “shows signs of exhaustion.” “Bitcoin has entered a corrective phase after the FOMC-driven rally, showing signs of ‘buy the rumor, sell the news’ dynamics. The broader market structure points toward fading momentum,” the analysts wrote. Bitcoin dipped below $109,000 on Thursday, the first time since late August. It’s down nearly 6% in the past week and over 11% from its August 4 all-time high of $124,128 as of Friday morning. That said, bitcoin is still up roughly ... (full story)
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