Crypto Bulls Hit by $300M in Liquidations as Bitcoin, Ether Buckle on Fizzling ETF Momentum

Crypto traders experienced the largest leveraged long wipe-out in three months as the ETF-fueled rally for digital asset prices reversed sharply. Over $307 million in liquidations of leveraged crypto long positions over the past 24 hours occurred, the largest amount in a day since August 17, when bitcoin (BTC) plunged from above $28,000 to about $25,000 in a few minutes. The wipeout occurred as BTC tumbled 4% to $35,000, despite a generally supportive environment for risk assets following a cooler-than-expected October inflation reading.