10x Research: Crypto Market Faces Largest Liquidation Since 2021

Odaily Planet Daily reports that 10x Research has released a report stating that the cryptocurrency market has just experienced the largest wave of liquidations since September 2021, with Ethereum at the core. Historically, such large-scale liquidations often indicate local lows and increase the probability of a rebound, and the current negative funding rates further reinforce this view. However, the report cautions traders to carefully consider position structures, technical signals, and market pricing conditions before 'buying the dip.' The report also notes that open interest in Bitcoin and Ethereum futures has surged by tens of billions of dollars, with key support levels being tested, and the future market direction may hinge on these factors.