Over the past 8 hours, $80 billion in value has been added to the cryptocurrency market, returning the total market capitalization to over $3 trillion.
The markets have been in extreme fear levels for over a month now. Prolonged fear typically leads to seller exhaustion. I think the bottom is almost in or is in already.
In a year where most alts are down 75%, only $PIPPIN, $ZEC, $XMR, and $BNB are up over 20%. These unlikely outperformers have defied everyone's expectations.
Over $154 billion in long and short positions have been liquidated in the crypto markets so far this year. The biggest single event was on October 10th, when $19.1 billion was liquidated.