The cryptocurrency market fell by 1.8% after it broke the $BTC level of $85,000, in a downward wave that coincided with the liquidation of $433 million in leveraged positions.
These liquidations mean that many traders were forced to close their positions as prices moved against their expectations, increasing selling pressure in the market.
In a parallel development, the traded funds recorded joint outflows of $208.58 million on September 30, as shown in $BTC and$ETH .
This mix of forced selling and money exiting the funds explains part of the current weakness, but whether the trend will continue or rebound remains dependent on price developments and upcoming flows.
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