Crypto trading/market thread

Who were the 2024 election's "crypto voters"?​

A slow bleed in crypto since late in the weekend accelerated into the early evening U.S. hours on Monday, leaving nearly the entirety of the sector sharply lower.
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Over $750 million worth of leveraged derivatives positions were liquidated across all digital assets over the past day, CoinGlass data shows, the ovewhelming majority of which were bullish bets. That puts today's flush almost on par with the August 5 crash and just trailing last Thursday's wild swing when BTC plunged to $90,000 from above $100,000.

There are some signs of waning momentum on the crypto markets, including declining exchange volumes and heavy profit-taking by long-term holders, analytics firm 10x Research pointed out in a Monday morning note.

"This is likely to be only a brief consolidation phase before the bull market regains momentum," 10x Research founder Markus Thielen wrote in the report. "However, traders should now pay close attention to which positions are outperforming and which are underperforming, as the rally enters a phase where not everything will continue to rise.
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