Bitcoin and Ethereum Rebound After Historic Crypto Crash
Crypto prices are rebounding after a significant selloff triggered one of the market's largest single-day liquidation waves.
The crypto market is recovering from a sell-off that resulted in one of the worst liquidation events in its history. On Friday, Bitcoin fell from $121,000 to $109,000 over a seven-hour period, erasing all gains made from an early "Uptober" rally. Ethereum dipped to $3,686, while Solana touched $173, according to CoinGecko data.
A "flash crash of liquidations" wiped almost $7 billion across all markets within one hour, with $5.5 billion coming from longs, said Sean Dawson, head of research at Dervie.
- Nearly $20 billion in liquidations across all digital assets were wiped out in a single day on Friday.
- $16.7 billion in long positions made up the majority, according to CoinGlass data. 
Author's summary: Crypto market rebounds after historic crash.