The crypto market has recorded the second highest number of liquidations in October as bullish investors experienced losses.
The market has stabilized following the fall in the price of major cryptocurrencies, triggered by the decline in the value of Bitcoin.
According to CoinGlass data, total cryptocurrency liquidations amounted to $261 million on October 23, of which $203.5 million were long bets.
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This is the second largest day of liquidations after October 1, when $450.8 million worth of liquidations occurred due to a 5% drop in the value of Bitcoin.
Among the major cryptocurrencies, Ether had the highest number of liquidations with more than $77 million lost in 24 hours, followed by Bitcoin call options of $58.3 million.