data<\/a>, there were $890 million in liquidations in the last 24 hours, of which $764 million came from long traders. Bitcoin alone saw $310 million in forced closures, followed by Ethereum with $195 million, Solana at $69 million, and XRP at $42 million.\u00a0<\/p>\nOpen interest has declined 1.31% to $159 billion, while the average market relative strength index sits at 40, indicating neutral momentum.<\/p>\n
Fed comments weigh on crypto prices today<\/h2>\n
The latest decline followed the Federal Reserve\u2019s 25-basis-point rate cut on Oct. 29. The rate cut had been widely anticipated, resulting in a \u201csell-the-news\u201d move which triggered forced liquidations across major exchanges.<\/p>\n
<\/p>\n
While lower rates often boost risk assets, it was overshadowed by Chair Jerome Powell\u2019s hawkish undertone, suggesting it could be the final cut of 2025. At the same time, heavy U.S. Treasury issuance has reduced market liquidity, pulling funds away from assets like crypto. Traders reacted with a \u201csell-the-news\u201d move, triggering forced liquidations across major exchanges.<\/p>\n
Funding rates have turned slightly negative, showing less appetite for leveraged bets. Analysts describe the correction as a \u201cliquidity purge\u201d rather than a full-blown bear market, similar to prior mid-cycle shakeouts.<\/p>\n
Broader market pressure continues<\/h2>\n
Ongoing concerns around trade tensions between the U.S. and China also added pressure. Even as new negotiations move forward, investors remain wary of President Trump\u2019s previous tariff threats.\u00a0<\/p>\n
While some traders expect further downside, with Bitcoin potentially retesting $104,000, on-chain data shows stable accumulation by long-term holders. Analysts note that inflows to wallets continue to rise, suggesting underlying confidence.<\/p>\n
In the past, risk asset recoveries have often been preceded by late-October pullbacks. Traders are keeping an eye out for a possible rotation back into cryptocurrency once liquidity conditions stabilise, as the Fed is expected to clarify its course in the upcoming weeks and trade negotiations continue.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The crypto market faced renewed pressure on Friday, Oct. 31 as major assets retreated following a wave of long liquidations that erased nearly $900 million in leveraged positions. Summary Crypto…<\/p>\n","protected":false},"author":1,"featured_media":5268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14848","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\/14848","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=14848"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14848\/revisions"}],"predecessor-version":[{"id":14849,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/14848\/revisions\/14849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/5268"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=14848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=14848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=14848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}