10x Research: Crypto Market Experiences Largest Liquidation Since 2021

According to a report released by 10x Research on Odaily Planet Daily, the cryptocurrency market has just experienced its largest wave of liquidations since September 2021, with Ethereum at the center. Historically, such large-scale liquidations typically signal a local low and increase the probability of a rebound, a view reinforced by the current negative funding rate. However, the report advises traders to carefully consider position structure, technical signals, and market pricing before "buying the dip." The report also points out that open interest in Bitcoin and Ethereum futures has surged by tens of billions of dollars, and key support levels are being tested, which may determine the future direction of the market.