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The cryptocurrency market is stabilizing after a major fall on Tuesday, Oct. 22. Consequently, the liquidations show signs of a cooldown. 
According to <a href="https://www.coingecko.com/en/global-charts" target="_blank" rel="nofollow">data</a> from CoinGecko, the global crypto market capitalization saw a $57 billion loss yesterday, reaching $2.44 trillion, after hitting a three-month high of $2.498 trillion a day earlier. 
The global market cap faced a 2.5% decline in the past 24 hours again, wiping another $7 billion.&nbsp; 
As the Tuesday selloff cools down, the total crypto liquidations plunged by 40% over the past day, reaching $121 million, according to data from Coinglass. Due to the market-wide downturn, 75% of the liquidations, worth $91 million, belong to long positions. 
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 <img loading="lazy" decoding="async" width="995" height="467" src="https://crypto.news/app/uploads/2024/10/Screenshot-2024-10-23-124446.png" alt="Crypto selloff is cooling down, liquidations plunge 40% - 22" class="wp-image-14305414">
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 Crypto liquidations – Oct. 23 | Source: <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow">Coinglass</a>
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Bitcoin (<a href="https://crypto.news/spot-bitcoin-etfs-record-outflows-of-79-1m-led-by-ark-and-21sharess-arkb/" target="_blank">BTC</a>) is leading with $18.5 million in liquidations—$11 million longs and $7.5 million shorts—as the price fell below the $67,000 mark. BTC is trading at $66,800 at the time of writing, marking a one-week low. 
Ethereum (<a href="https://crypto.news/spot-bitcoin-etfs-record-outflows-of-79-1m-led-by-ark-and-21sharess-arkb/" target="_blank">ETH</a>) saw a relatively high long-short ratio as $11.2 million of its total $14.5 million liquidations belong to long trading positions. ETH is still hovering above the $2,600 psychological zone despite the bearish sentiment surrounding it. 
The largest single liquidation order, worth almost $690,000 in Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>)/USDT pair, happened on Binance, the largest crypto exchange by trading volume. 
According to a crypto.news report, spot BTC exchange-traded funds in the U.S. <a href="https://crypto.news/spot-bitcoin-etfs-record-outflows-of-79-1m-led-by-ark-and-21sharess-arkb/" target="_blank">recorded</a> their first day of outflows as the market-wide sentiment turned bearish. These investment products as a net outflow of $79.1 million, led by Ark and 21Share’s ARKB fund, with an outflow of $134.7 million. 
ETH ETFs, on the other hand, witnessed a net inflow of $11.9 million amid market uncertainty. 
 Read more: <a rel="" href="https://crypto.news/chainlink-could-see-another-sell-wave-despite-price-fall/"> ChainLink could see another sell wave despite price fall </a>

Crypto selloff is cooling down, liquidations plunge 40%

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