The post Bitcoin, Altcoin Selling Not Done Yet, Data Proves It appeared on BitcoinEthereumNews.com.

Key points: A sharp reduction in aggregate open interest highlights the severity of the $20 billion in leveraged liquidations and highlights traders’ reluctance to re-enter the market. Bitcoin selling and price weakness are likely to extend until CME BTC and equities futures markets open on Sunday evening, US hours. The crypto market continues to reel from Friday’s historic sell-off, which resulted in over $20 billion in centralized exchange liquidations and several hundred million across the DeFi landscape.  Traders were clearly caught off guard as President Trump’s 100% tariff on Chinese imports Truth Social Post sent shockwaves across the crypto market. Data from CoinGlass shows the severity of the flash-crash, and at the time of writing, Bitcoin (BTC) struggles to trade above $110,000, while other majors like Ether (ETH) and SOL (SOL) are down 3.74% and 7.0% respectively.  24-hour crypto market liquidations. Source: CoinGlass Trump’s aptly timed tweet on Friday happened in the last 2 hours of the trading day for equities and regulated crypto trading venues, so there is a chance for extended price downside as volumes and orderbooks in CeFi and CEXs thin out over the weekend.    While speaking to Schwab Network anchor Nicole Petallides, Cointelegraph head of markets Ray Salmond explained how Bitcoin, Ether and several altcoins were ripe for exploitation according to liquidation heatmap data.  “If we look at liquidation heatmap data from Hyblock Capital, which basically shows where all the short and long positions are across various orderbooks at centralized crypto exchanges, we can see that there’s a liquidity pocket of long positions that are being exploited…that pocket extends from $120,000 to $115,000 and from $115,000 to $113,000.”  Ray Salmond explains the crypto market sell-off. Source: Schwab Network Salmond added: “There are plenty of metrics and data that suggest Bitcoin is trading at a discount right…

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Filed under: News - @ October 12, 2025 1:26 am