{"id":172493,"date":"2024-10-02T14:57:41","date_gmt":"2024-10-02T14:57:41","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172493"},"modified":"2024-10-02T14:59:31","modified_gmt":"2024-10-02T14:59:31","slug":"bullish-crypto-bets-face-massive-liquidations-as-geopolitical-risks-mount","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bullish-crypto-bets-face-massive-liquidations-as-geopolitical-risks-mount\/","title":{"rendered":"Bullish Crypto Bets Face Massive Liquidations as Geopolitical Risks Mount"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">The crypto market fell by <strong>5%<\/strong> following <strong>Middle East<\/strong> tensions, with <strong>$450 million<\/strong> in liquidations.<\/li>\n<li style=\"text-align: justify\">Bitcoin reached <strong>$60,300<\/strong> before partially recovering to<strong> $61,247<\/strong>, reflecting a daily loss of <strong>4.1%.<\/strong><\/li>\n<li style=\"text-align: justify\">Despite massive liquidations, some analysts remain confident that BTC <strong>could reach $70,000<\/strong> in the coming weeks.<\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\">The cryptocurrency market suffered a sharp decline following the <strong>increase in geopolitical tensions in the Middle East<\/strong>, resulting in the liquidation of approximately<strong> $450 million in bullish bets<\/strong>. The total <a href=\"https:\/\/crypto-economy.com\/bear-market\/\" target=\"_blank\" rel=\"noopener\"><strong>market<\/strong> <\/a>capitalization dropped by an average of <strong>5%,<\/strong> affecting major digital assets like Bitcoin and Ethereum.<\/p>\n<p style=\"text-align: justify\">The plunge occurred after Iran <strong>launched missiles<\/strong> toward strategic locations in Israel, sparking <strong>uncertainty in global markets<\/strong> and affecting risk assets, including BTC. The leading cryptocurrency fell to <strong>$60,300<\/strong>, its lowest level this month, before slightly recovering during Asian trading hours. It is currently trading at <strong>$61,247,<\/strong> reflecting a daily loss of <strong>4.1%.<\/strong><\/p>\n<h2>A Major Setback for the Bullish Crypto Market<\/h2>\n<p style=\"text-align: justify\">Data from <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" target=\"_blank\" rel=\"noopener\"><strong>CoinGlass<\/strong> <\/a>reveals that the vast majority of traders, <strong>86%, held bullish positions at the beginning of October,<\/strong> confident that this historically favorable month for Bitcoin would follow the trend.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172498\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/liquidaciones-post.jpg\" alt=\"crypto liquidations\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/liquidaciones-post.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/liquidaciones-post-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/10\/liquidaciones-post-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\">However, the market\u2019s downturn took many investors by surprise, <strong>triggering massive liquidations in futures contracts of several major tokens<\/strong>. Traders betting on <strong>BTC<\/strong> price increases saw losses exceeding <strong>$101 million<\/strong>, while <a href=\"https:\/\/crypto-economy.com\/ethereum-staking\/\" target=\"_blank\" rel=\"noopener\"><strong>Ethereum<\/strong> <\/a>bets resulted in liquidations close to <strong>$92 million<\/strong>. <strong>Altcoins<\/strong> also suffered significant losses, with liquidations totaling over<strong> $85 million<\/strong>, and <strong>PEPE<\/strong> being one of the hardest hit with <strong>$10 million<\/strong> in liquidations.<\/p>\n<h3 style=\"text-align: justify\">Hope Remains for Bitcoin<\/h3>\n<p style=\"text-align: justify\">The impact of these liquidations reflects extreme market behavior. In situations like this, sharp movements can <strong>indicate an overselling or overbuying response<\/strong> due to investor panic.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-171961\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/Bitcoin-2.jpg\" alt=\"BlackRock Highlights Bitcoin as Hedge Against U.S. Dollar Concerns\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/Bitcoin-2.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/Bitcoin-2-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/Bitcoin-2-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<p style=\"text-align: justify\">Despite the sharp decline, many analysts believe that <strong>October could continue to favor Bitcoin<\/strong>, given that it has had only two negative months since 2013. Some traders remain hopeful that BTC\u2019s price could recover <strong>and reach $70,000<\/strong> in the coming weeks, driven by factors such as <strong>global monetary policies and political support in the United States<\/strong> that have favored the bullish trend in recent weeks<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR The crypto market fell by 5% following Middle East tensions, with $450 million in liquidations. Bitcoin reached $60,300 before partially recovering to $61,247, reflecting a daily loss of 4.1%. Despite massive liquidations, some analysts remain confident that BTC could reach $70,000 in the coming weeks. The cryptocurrency market suffered a sharp decline following the &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Bullish Crypto Bets Face Massive Liquidations as Geopolitical Risks Mount\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/bullish-crypto-bets-face-massive-liquidations-as-geopolitical-risks-mount\/#more-172493\" aria-label=\"More on Bullish Crypto Bets Face Massive Liquidations as Geopolitical Risks Mount\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":172497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9156,84,74],"tags":[4602,4620,5536,4656,4679],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172493"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172493"}],"version-history":[{"count":2,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172493\/revisions"}],"predecessor-version":[{"id":172500,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172493\/revisions\/172500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172497"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}