Crypto market capitalization dropped 5% on average as Middle East tensions flared up late Monday, denting growth in risk assets.

  • Nearly half a billion in bullish crypto bets were liquidated as the market buckled under geopolitical pressure.
  • Data from CoinGlass shows that 86% of traders are bullish going into October.

Futures tied to major tokens saw over $450 million in long liquidations in the past 24 hours as a bitcoin (BTC) plunge led to losses among major tokens, with some falling as much as 8%.

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