According to a report by Pakistan Tech News, The month of November started with a sharp loss for the cryptocurrency market. More than $1.2 billion in leveraged positions got wiped out in just 12 hours during today’s session.
- Bitcoin fell more than 4% to $105,699 – the lowest in three weeks.
- Ethereum: 7% fall to $3,583–a near 3-month low.
- Most ($1.08 billion) were long positions that were shorted as prices increased.
- XRP fell 7% to $2.33. BNB, Solana, and Dogecoin each lost about 9%.
- This decline follows a disappointing October, which did not yield a mutual “Uptober” rally.
This month’s steep decline has raised fears in the minds of many crypto players. The November data is quite complicated, some research houses said. Many traders on X have called for caution amidst the possibility of a retreat. So far, investors have pulled over $1.2 billion in the last 12 hours. The pace could see further liquidations if this continues.
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