Crypto Market Crash Amid $300M Liquidation Surge and OI Crash
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Aug 28 2024Market Liquidations and Sentiment: The crypto market is experiencing a significant downturn with over $300 million in liquidations, primarily affecting Bitcoin and Ethereum, leading to increased bearish sentiment among investors.
Potential Recovery Indicators: Despite the crash, Bitcoin maintains a critical support level at $59K, and the stablecoins market cap has risen to $166 billion, historically indicating potential recovery opportunities for the broader crypto market.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
