Crypto market: Over $1.2 billion in long positions cleared in the past 24 hours

The move—paired with a 15% open-interest drop—keeps pressure on bulls ahead of a looming death-cross setup and a key $2.20 support retest.

[U.S. Government Shutdown May Break 35-Day Historical Record] On November 5, the U.S. Senate failed to pass the federal government's temporary funding bill on November 4 local time. This means the current federal government shutdown, which began on October 1, may break the 35-day historical record set between late 2018 and early 2019, becoming the longest government shutdown in U.S. history.

In the past hour, the cryptocurrency market has cleared a total of $289 million in positions, including $268 million in long positions and $20 million in short positions. （Cointelegraph）

The current price of ETH is $3398.42, with a drop of 6.63% in the past 24 hours. Among them, the total liquidation amount of contracts across the entire network in the past 1 hour was 103 million US dollars, with multiple orders being the main liquidation and 29.53 million US dollars (28.44%) of ETH liquidation. The data is for reference only.

Friedman sees post-trade streamlining, collateral mobility and better payments as key blockchain breakthroughs.