Originally published on: December 04, 2024
As the broader crypto market continues to see significant gains, crypto analyst Michael van de Poppe has issued a warning of a possible “flash crash” on the horizon. With corrections inevitable, van de Poppe believes that a massive liquidation crash across Altcoins may be imminent.
In a recent Xpost on Nov. 3, van de Poppe advised investors not to panic in the event of a flash crash, but rather to view it as an opportunity to enter the markets. He referred to these potential crashes as a blessing in disguise for savvy investors.
Over the past 24 hours, a staggering $618.7 million has been liquidated from the crypto market. The increasing number of market positions means that even a minor pullback could trigger a wave of liquidations, creating a volatile environment for traders.
The recent fluctuations in the market were triggered by South Korean President Yoon Suk-yeol’s declaration of martial law, followed by a swift reversal. This chain of events led to $85.8 million in Bitcoin positions and $61.5 million in Ether positions being liquidated, according to data from CoinGlass.
Despite the initial drop in prices for Bitcoin, Ether, XRP, and other cryptocurrencies, they have since shown signs of recovery. Bitcoin, for instance, has rebounded by 2.4% and is currently trading at $96,700, according to CoinMarketCap.
In light of these developments, investors are closely watching the market for signs of potential sell-offs. CryptoQuant contributor Onat Tütüncüler highlighted the growing inflow of Bitcoin into exchanges as a possible precursor to future sell-offs in a recent analyst note.
While uncertainties loom over the market, smart traders are positioning themselves to capitalize on any opportunities that may arise. Stay informed and stay ahead of the curve by subscribing to our Markets Outlook newsletter for critical insights on investment opportunities and trading strategies. Don’t miss out on the latest updates by subscribing today!
