‘Worst days in history’ – Trump’s stock-market reaction meets crypto’s $900B slide

Bloodbath is the perfect word to describe the post-election market action. Despite the markets trading on the assumption that Democrats will win, with odds hitting a high of 99%, crypto has suffered a severe sell-off. However, the downside may not be over yet. The total crypto market cap has now slipped back to mid-September levels, marking five straight weeks of losses and wiping out nearly $900 billion in market value. The result? A textbook liquidity sweep. According to Coinglass, nearly $1 billion in positions were liquidated on the 5th of September, marking the largest single-day wipeout since the $2 billion short squeeze in mid-August. However, unlike that event, nearly 80% of the liquidations came from longs, showing that bullish traders were heavily caught offside as the market moved lower.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to AMBCrypto.