Update
Crypto Market Selloff Exposes Market Fragility
CoinGlass's Nov. 12 snapshot showed $727 million of crypto trading positions forcibly closed in 24 hours. Bitcoin and Ethereum hit three-month lows, with Bitcoin dropping to $71,317 and Ethereum to $1,983. The downturn has pushed the broader crypto market's valuation from approximately $2.94 trillion to $2.39 trillion, signaling increasingly bearish expectations. Bitcoin and Ethereum accounted for about 57% of the market-wide total liquidations, with long positions representing 90% of the total.