🚀 #GateNewbieVillageEpisode4 ✖️ @比特一哥 
📈 Follow the trend, pick your points, wait for the signal 
💬 Share your trading journey | Discuss strategies | Grow with the Gate Family 
⏰ Event Date: Oct 25 04:00 – Nov 2 16:00 UTC 
How to Join: 
1️⃣ Follow Gate_Square + @比特一哥 
2️⃣ Post on Gate Square with the hashtag #GateNewbieVillageEpisode4  
3️⃣ Share your trading growth, insights, or experience 
— The more genuine and insightful your post, the higher your chance to win! 
🎁 Rewards 
3 lucky participants → Gate X RedBull Cap + $20 Position Voucher 
If delivery is unavailable, replaced with a $30 Position V
Over $1 billion in crypto liquidated in 24 hours
A total of $1.12 billion in cryptocurrency was liquidated over the past 24 hours, with $961.92 million coming from long positions and $162.61 million from shorts, according to data Finbold retrieved from Coinglass.
CoinglassWith $445.25 million wiped, Bitcoin (BTC) bore the brunt of the impact, followed by Ethereum (ETH), which saw $230.49 million “rekt” in the same period.
Crypto market roller-coaster
The drop was largely the result of Chair Jerome Powell’s Wednesday speech, in which he poured cold water on the hopes of another cut in December.
“There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion,” said Powell.
*“There were strongly differing views about how to proceed in December. A further reduction in the policy rate at the December meeting is not a foregone conclusion,”*What’s more, the liquidation wave comes as investors welcome new signs of progress in the ongoing U.S.-China trade talks. On Thursday, United States President Donald Trump and Chinese President Xi agreed to cease any mutual escalation and sealed a one-year trade truce after meeting face-to-face for the first time in more than half a decade.
Following the news, Bitcoin slid as much as 3.8% on Thursday, trading as low as $108,572 in the early hours and reversing the momentum it gained during last week’s brief rebound.
The broader crypto market followed suit. Ethereum slipped 3.6% to $3,871, Solana (SOL) edged 1.4% lower to $191.95, and XRP tumbled 4.1% to $2.51
Spot Bitcoin ETFs are also in the red today, recording 4,238 BTC in daily outflows, worth approximately $471 million
Featured image via Shutterstock
Featured image via ShutterstockFeatured image via Shutterstock