data<\/a>, the market\u2019s total open interest declined to roughly $221 billion, down 5.6%. This reflects a combination of profit-taking and leveraged liquidations.<\/p>\nLiquidations surge as crypto prices fall<\/h2>\n
This downturn isn\u2019t yet a crash but rather a technical shakeout. Liquidations surged to about $688 million in the past day, with $480 million wiped out in just 12 hours. 80% came from long positions. High leverage likely amplified the selloff, as BTC broke below its $122,000 support and ETH failed to hold $4,600.<\/p>\n
<\/p>\n
On-chain data indicates that whales are not panic-selling despite the steep retracement. Instead, Bitcoin exchange balances are still falling, indicating accumulation at lower levels. The slight increase in trading volume to between $190 and $200 billion suggests that short-term volatility, not structural weakness, was the driving force behind the move.<\/p>\n
Broader macro sentiment also played a role. U.S. stock indices ended lower (Nasdaq \u22120.43%), while sticky inflation data reduced hopes for imminent Fed rate cuts. Combined with ongoing uncertainty around the government shutdown, risk appetite has cooled temporarily.<\/p>\n
Key October events could fuel further volatility <\/h2>\n
Still, October,\u00a0 often dubbed \u201cUptober\u201d by traders, remains packed with potential catalysts that could revive momentum. Key events include the Oct. 9 Grayscale advisors summit, which may hint at new institutional inflows.<\/p>\n
In addition, the Oct. 15 U.S. CPI report, a major inflation gauge likely to sway risk appetite, and the Oct. 16 SEC decision on Solana\u2019s spot exchange-traded fund, could spark strong volatility.\u00a0The month wraps up with the Oct. 30 Federal Reserve meeting, where a 25-basis-point rate cut could trigger a broad crypto rally.<\/p>\n
If Bitcoin holds above $120,000 and Ethereum stabilizes around $4,500, analysts expect a rebound toward $125,000 or higher before the month\u2019s end.\u00a0<\/p>\n
Solana and XRP could also see relief rallies if ETF optimism and risk appetite return. For now, traders view this dip as a pause in Uptober\u2019s potential upswing, not the end of it.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto prices today stumbled, snapping their recent rally as traders took profits ahead of a packed October schedule. Summary Bitcoin, Ethereum, Solana, and XRP slide as sentiment cools. $688M in…<\/p>\n","protected":false},"author":1,"featured_media":5967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=12821"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12821\/revisions"}],"predecessor-version":[{"id":12822,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/12821\/revisions\/12822"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5967"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=12821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=12821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=12821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}