Crypto Market Still Feeling the October Shock

[cryptohog]

The October 10 crypto liquidation continues to ripple through the market. More than $19 billion in positions were liquidated, causing a $65 billion decline in open interest and pushing USDe’s market cap down from $14.7 billion to $6.4 billion in just over two months.

Trading volumes have fallen by roughly 50%, while U.S.-listed Bitcoin ETFs have seen $5 billion in net outflows since late October. Analysts at 10x Research note that this is less about retail panic and more about regulated capital pulling back from leveraged positions, leaving Bitcoin trading more like an isolated risk asset than a macro hedge.

Investors are watching closely to see how synthetic collateral-based assets like USDe withstand continued market volatility.

[AIcash]

we still can't bounce back lol