Crypto Market Faces $1.1 Billion Liquidations
The cryptocurrency market experienced a shocking $1.1 billion in liquidations over just 24 hours on November 14, 2025, primarily affecting long positions. This market shake-up has drawn stark comparisons to the sentiment following the infamous FTX collapse in 2022. More than 246,000 traders were forced to close leveraged positions, with the largest liquidation being a $44.29 million BTC-USDT trade on HTX.
High volatility led to a heavy impact, with platforms like Hyperliquid and Bybit recording $134.16 million and $122.57 million in liquidations, respectively. This has raised concerns about whether the current corrections signal the beginning of a new bear market or are part of a temporary downturn within a larger bullish trend.
Similarities to the 2022 FTX Collapse
During this market rout, cryptocurrency sentiment dipped to lows reminiscent of the 2022 FTX crisis. Bitcoin’s Relative Strength Index (RSI) now hovers in oversold territory for the first time in three years. Notably, Bitcoin has dropped below its lower volatility band, marking a significant red flag for analysts tracking market stress indicators.
To refresh, the FTX collapse of November 2022 resulted in the crypto market losing billions in value after revelations of unstable finances at Alameda Research and Binance’s decision to liquidate its FTT holdings. This triggered a cascade of bankruptcies, including notable names like Genesis and BlockFi. While today’s situation reflects similar uncertainty, analysts highlight key differences in the underlying market structure and sentiment drivers.
Key Analyst Perspectives
Industry experts remain divided on what this means for the market’s future. CryptoQuant CEO Ki Young Ju emphasizes that Bitcoin holder confidence remains intact as long as prices stay above the $94,000 cost basis, a psychological buffer not yet broken. By contrast, Haseeb Qureshi of DragonFly Capital argues that the current downturn is far less catastrophic than the chain-reaction collapses seen in 2022, stating, “This is the easiest bear market I’ve ever seen.”
Both perspectives underscore the uncertainty surrounding current market conditions. While indicators point to stress, crypto’s core infrastructure appears more resilient than during previous crises. This resilience could potentially prevent a full-scale bear market.
Products to Manage Market Stress
Whether you’re a seasoned trader or navigating the volatility of crypto for the first time, keeping a clear head is essential. Products like Moon Juice’s Brain Dust, a powdered adaptogenic supplement, can help combat market-related stress and improve focus.
What Lies Ahead?
The crypto space continues to evolve with unexpected turns. For those actively investing, the key takeaway remains patience and vigilance. As analysts closely monitor Bitcoin’s next moves, one thing is clear—whether this correction is short-lived or the beginning of a longer bear market, the industry has learned resilience from its past challenges.
