BeinCrypto analyst "Crypto market capitalization evaporated $100 billion overnight, but... Normal Range"

Cryptocurrency market capitalization has evaporated by about $100 billion in the past 24 hours, which is normal for the highly leveraged crypto market, according to an analysis. According to BeInCrypto, crypto analyst CrediBULL Crypto, who has about 35.6 million X (formerly Twitter) followers, said, "Bitcoin futures open interest has been increasing since before this drop, and the futures funding ratio has been rising. The futures funding ratio has returned to a neutral level after a sharp drop the previous day. All data considered, this was a normal and healthy correction. The volume of liquidations was also not at the level we would see if the market was truly overheated."