618 Million Liquidated: The Crypto Market Under Extreme Pressure

The crypto market is going through a turbulent period marked by record liquidations of 618 million dollars over 24 hours. Michael van de Poppe, founder of MN Capital and recognized analyst, warns against a possible flash crash, while paradoxically seeing it as an investment opportunity.

An explosive situation in the crypto market

Michael van de Poppe, founder of MN Capital and a recognized analyst in the crypto ecosystem, issued a clear warning on November 3 on the X platform. According to him, a flash crash could happen at any moment, triggering a cascade of massive liquidations, particularly in the altcoin market.

The last 24 hours have already seen 618.7 million dollars in positions liquidated, including 85.8 million in bitcoin and 61.5 million in Ethereum. This wave of liquidations was triggered by the announcement and then the rapid withdrawal of martial law in South Korea, illustrating the market’s extreme sensitivity to geopolitical events.

Despite these turbulences, van de Poppe remains optimistic in the long term, considering these corrections as strategic buying opportunities. “Don’t panic. Take the opportunity to enter the markets. It’s a blessing,” he stated, emphasizing the importance of a long-term vision in a highly volatile market.

Alert signals are multiplying

The situation is even more concerning as crypto trading volume in South Korea has exploded, reaching 18 billion dollars in 24 hours according to 10x Research. This intense activity even exceeds the traditional stock market in the country by 22%, creating an environment conducive to extreme price movements.

At the same time, data from CryptoQuant reveals a wait-and-see behavior from “Bitcoin whales,” while BTC fluctuates below the symbolic threshold of 100,000 dollars.

Analyst Onat Tütüncüler from CryptoQuant notes a worrying increase in bitcoin transfers to exchanges, a traditional indicator of potential selling pressure. This accumulation of risk factors could indeed precipitate the flash crash feared by van de Poppe.

In this climate of uncertainty, caution remains essential for investors. If a flash crash were to materialize, it could offer attractive entry points for seasoned investors, while also posing a major risk for leveraged positions.