Cryptocurrency market plunged on the first day of November, with Ethereum dropping nearly 9%. The total liquidation amount across the entire network exceeded 1.2 billion US dollars.

According to the Wise Finance APP, the cryptocurrency market had a difficult start in November, with Bitcoin and Ethereum both experiencing significant declines, leading to a large number of liquidations and putting pressure on market confidence once again. Against the backdrop of a lack of positive macroeconomic catalysts, investor sentiment has clearly shifted towards a defensive stance, with trading structures also showing a stronger tendency towards risk aversion.