October, dubbed 'Uptober,' witnessed the largest ever crypto liquidation event, with $21 billion wiped from leveraged positions across top assets. Despite a sharp dip during the month, Bitcoin's price resilience—holding above $110,000—has surprised many analysts, including Scott Melker, who called it a 'small miracle.' On-chain data reveals strong profit retention among holders and a shift towards short-term investors controlling a larger share of realized capitalization. The market saw significant deleveraging alongside rising stablecoin liquidity and increased institutional engagement, contributing to recovery support. Technical indicators suggest possible corrections yet maintain a bullish outlook depending on key price thresholds. Overall, infrastructure advancements and investor behavior signal a potential sustained uptrend heading into year-end.
Continue to read Uptober's Crypto Turmoil: Largest Liquidation Event Sparks a 'Small Miracle' for Bitcoin Bulls
October, dubbed 'Uptober,' witnessed the largest ever crypto liquidation event, with $21 billion wiped from leveraged positions across top assets. Despite a sharp dip during the month, Bitcoin's price resilience—holding above $110,000—has surprised many analysts, including Scott Melker, who called it a 'small miracle.' On-chain data reveals strong profit retention among holders and a shift towards short-term investors controlling a larger share of realized capitalization. The market saw significant deleveraging alongside rising stablecoin liquidity and increased institutional engagement, contributing to recovery support. Technical indicators suggest possible corrections yet maintain a bullish outlook depending on key price thresholds. Overall, infrastructure advancements and investor behavior signal a potential sustained uptrend heading into year-end.
Continue to read Uptober's Crypto Turmoil: Largest Liquidation Event Sparks a 'Small Miracle' for Bitcoin Bulls
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