The crypto market has continued to bleed, led by Bitcoin (BTC). The total crypto market cap slipped 2% to hover around $3.12 trillion on Monday, November 17 during the late North American trading session.
As a result, more than 154k traders were liquidated, with total liquidations totaling about $801 million. Out of this, around $500 million involved long traders, thus further strengthening the midterm crypto selloff through a long-squeeze.
The crypto market has been trapped in a series of brutal sell-offs in the past four weeks. In the past 41 days, the total crypto market cap has dropped over $1.1 trillion amid heavy liquidations of long traders.
Source: X
As a result, the fear of a further crypto crash is palpable. According to Binance-backed CoinMarketCap (CMC), the Crypto Fear and Greed Index has dropped to 17, almost the lowest level year-to-date.
Source: CoinMarketCap
According to market data analysis from CMC, crypto traders have been favoring a Bitcoin season in the past few days. The CMC’s Altcoin Season Index hovered around 30/100 as the majority of the crypto projects bleeds amid low fresh liquidity.
Source: CoinMarketCap
However, several key macroeconomic events are expected to trigger a fresh wave of global liquidity injection. Historically, a spike in global money supply has favored bullish sentiment for the wider crypto market. Some of the wider macroeconomic events to consider for bullish altseason 2025 include:
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