Bitcoin News Update: Crypto Crash Wipes Out More Than $1.1B, Triggering Ripple Effects in Stock Markets
- Crypto Fear & Greed Index rose to 23 in November as ETH/BTC plummeted, triggering $1.1B in liquidations amid leveraged unwindings. - ETH fell below $3,400 (erasing 2025 gains) while BTC neared $100,000 support, with 303,000 accounts liquidated in 24 hours. - Coinbase reported $1.9B Q3 revenue amid market chaos, contrasting with BlackRock's IBIT ETF losing $290M as BTC declines spooked investors. - Global markets mirrored crypto's fragility, with KOSPI dropping 4.1% and analysts warning of "material equit
At the start of November, the Crypto Fear & Greed Index inched up to 23, but remained deep within the "Extreme Fear" zone as
The selloff accelerated as traders rushed to close out leveraged positions. Over 303,000 accounts were liquidated, with $287 million in long trades erased in just one hour. Ether’s two-day, 20% plunge echoed the October 10 rout, with 10x Research’s Markus Thielen pointing to possible support between $2,700 and $2,800, as reported by
Amid the turmoil,
Wider financial markets also showed signs of weakness. Asian stocks continued Wall Street’s downward trend, with South Korea’s KOSPI tumbling 4.1% amid global concerns about stock overvaluation,
The simultaneous downturn in both crypto and traditional markets highlights growing investor unease. Ethereum’s drop to its lowest point in a year and Bitcoin’s test of the $100,000 mark reveal the sector’s vulnerability. Meanwhile, the persistently low Fear & Greed Index reading signals ongoing caution, even as some see potential buying opportunities after the selloff, as Bloomberg observed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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