Crypto Sentiment Gauge Stays in Fear After $1.19 Billion Liquidation Wave

A crypto sentiment gauge rose to 32 early Nov. 10 but stayed in “Fear” territory, while a Nov. 9 sell-off forced the closure of more than $1.18 billion in positions.

The gauge’s previous reading was 29. Its latest figure was checked at about 3:47 a.m. ET (08:47 UTC), hours before the scheduled U.S. October consumer price index release. Its classification did not change.

A Nov. 9 market snapshot put crypto liquidations at $1.187 billion over 24 hours, including $1.042 billion in long positions and $145 million in short positions. Liquidations forcibly close leveraged trades when traders lack enough margin to support them. Long positions accounted for most of the total.

An earlier Nov. 9 snapshot showed more than $1.15 billion in 24-hour liquidations, including $1.04 billion in long positions. The totals are rolling snapshots from different times. The October CPI report was scheduled for release at 8:30 a.m. ET (13:30 UTC) Nov. 10.