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Bitcoin (BTC) Confirms First Major “Death Cross” of 2025: What’s Next?
October 19th, 1987 – On a day eerily reminiscent of the infamous Black Monday, Bitcoin (BTC) has confirmed its first major “death cross” of the year. This pivotal event is sending shockwaves through the cryptocurrency market, as the asset’s price plummeted by a staggering quarter in a single session.
As investors scrambled to salvage their portfolios, they sought refuge in “safe-haven” assets, sparking a sell-off in Bitcoin futures. According to Glassnode data, total BTC futures liquidations reached a staggering $58.8 million over the past 24 hours, with long positions taking the brunt of the hit at $42.1 million.
Meanwhile, open interest has dipped to $34.5 billion, marking a decline from its recent highs. The market’s overall sentiment is now skewed towards risk aversion as traders reduce their exposure to cryptocurrencies in response to the sudden downturn.
As we navigate this volatile landscape, it remains crucial for investors to stay informed and adapt to changing circumstances.
Source: https://u.today/bitcoin-btc-confirms-first-major-death-cross-of-2025-whats-next
