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Crypto market sees over $1.2 billion in liquidations as Bitcoin and Ethereum open interest falls
The crypto market recorded more than $1.2 billion in liquidations over a 24‑hour period, according to CoinGlass. The activity affected 239,733 traders, with Bitcoin accounting for $331 million and Ethereum for $213 million of the losses. Long positions made up 88.6% of liquidations, including $297.9 million in Bitcoin longs and $177.5 million in Ethereum longs, while Binance handled the largest share at 45.2%. Despite the sell‑off, Bitcoin’s dollar‑denominated open interest fell but coin‑denominated interest rose 12.1% to 694,728 BTC, indicating new leveraged positions. Analysts note that funding rates stayed positive and spot Bitcoin ETFs saw $643.2 million outflows on Oct 30, suggesting continued selling pressure.