Crypto Market Faces $900M Liquidations Amid Bitcoin Retreat
Daily Bitcoin volatility jumped from 15% to 38%, while Ethereum volatility surged from 41% to 70%.
Bitcoin dropped to approximately $110,000 on Tuesday, hitting a seven-week low and triggering over $900 million in leveraged position liquidations. The broader crypto market declined nearly 2%, with the GMCI 30 Index falling 3% as volatility spiked ahead of key U.S. economic releases.
Daily Bitcoin volatility jumped from 15% to 38%, while Ethereum volatility surged from 41% to 70%. Options markets showed the strongest demand for downside protection in two weeks, with 25-delta skew turning negative for both major cryptocurrencies.
Analysts flagged potential retests of $100,000 for Bitcoin and $4,000 for Ethereum by late September. Technical…
