Analyst: This market crash does not imply a long-term bearish outlook or fundamental deterioration
PANews, October 12—According to Cointelegraph, investment analyst Kobeissi Letter stated that Friday's sudden market crash caused some cryptocurrencies to plunge by 95% in less than 24 hours, but this does not indicate a long-term bearish outlook or a deterioration in fundamentals.
The analyst wrote that Friday's market crash was triggered by a series of short-term factors, including "excessive leverage and risk," as well as U.S. President Donald Trump announcing a 100% tariff on China. There was a significant long bias in the market, with long positions liquidated amounting to $16.7 billion, while short positions liquidated were only $2.5 billion, a ratio close to 7:1.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Infighting, scandals, and a stock price plunge: What can DAT rely on to survive?

Price predictions 11/28: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, HYPE, BCH, LINK

Ethereum Privacy’s HTTPS Moment: From Defensive Tool to Default Infrastructure
A summary of the "Holistic Reconstruction of Privacy Paradigms" based on dozens of speeches and discussions from the "Ethereum Privacy Stack" event at Devconnect ARG 2025.

