Crypto Market Sees Largest Altcoin Liquidations Since LUNA Collapse

In Brief

Over $10 billion in liquidations, the biggest since the May 2022 LUNA crash.

Altcoins are suffering heavy losses, with no signs of recovery in the short term.

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The cryptocurrency market is undergoing its most severe altcoin liquidations since the LUNA collapse in May 2022, according to Bravos Research. With over $10 billion in liquidations, this event has surpassed the impact of the FTX collapse, highlighting deep market instability.

Data shows that Bitcoin dominance is rising, indicating capital is shifting away from altcoins into safer assets like BTC and stablecoins. Analysts note that there are no signs of an altcoin season emerging in the short term, as traders remain cautious amid the ongoing sell-off.

With market confidence shaken, investors are closely monitoring key support levels as altcoins struggle to regain momentum.

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