After a rough October that didn’t produce the expected “Uptober” gains for Bitcoin and other top crypto assets, November’s getting off to a rough start.
Major crypto assets are deep in the red so far on Monday, with Bitcoin diving by 4% and altcoins showing much larger losses. All the while, liquidations are piling up, with approximately $1.16 billion worth of positions zapped over the last 24 hours per data from CoinGlass.
The majority of the positions, $1.08 billion worth, are long positions, or bets that an asset’s price will rise. Bitcoin and Ethereum are currently leading the wreckage, with about $298 million and $273 million worth of liquidations, respectively.
Bitcoin has fallen 4% on the day to a recent price of $105,699, the lowest since October 17, per CoinGecko.
Ethereum and other alts have been hit much harder, though, with ETH diving about 7% to $3,583 — a nearly three-month low. XRP has fallen about 7% to $2.33, while BNB, Solana, and Dogecoin are all showing daily dives around 9% as of this writing.
