Degen

On November 23, the sharp volatility in the cryptocurrency market led to the loss of $478 million in traders’ capital. While cryptocurrencies such as Ripple (XRP) and Cardano (ADA) experienced significant price increases, they also faced a sharp price correction. With Bitcoin (BTC) stabilizing below the psychological threshold of $100,000, the altcoin season has begun, which is accompanied by severe volatility. According to Coinglass data, $240 million was lost from short positions and $238 million from long positions. The largest liquidation was related to a Bitcoin trader on Binance worth $15.03 million. In total, more than 164,000 traders were affected by the fluctuations. The Relative Volatility Index shows that the market has experienced severe volatility in the past 24 hours. Traders and investors are now waiting for the next market move and entry and exit signals.

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