Bitcoin Surges to $115,000 After $191B Liquidation—Leverage Drops to 2022 Levels as Whale & Institutional Liquidation Risks Loom

On-chain analysis by Coinbob indicates a technical rebound after the October 11 liquidation event, which the tool estimates at around $191 billion. The episode coincided with a recovery in major tokens and a restoration of aggregate market capitalization toward the $4 trillion area, while Glassnode data shows the market leverage ratio has contracted to levels last observed in 2022.

Market participants cited political cues and liquidity dynamics as catalysts for the synchronous uptick in equity futures and the crypto market; the Bureau of Labor Statistics has postponed September CPI publication to October 24. Despite the rebound, persistent on-chain flows and notable whale transactions keep liquidation risk elevated, with some funds identifying $100,000 as critical Bitcoin support.

Stablecoin stability remains a focus, as assets such as USDe continue to exhibit residual anchoring risk and potential collateral stress. COINOTAG advises investors to prioritize disciplined risk management amid ongoing volatility.

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