Crypto Market Recap: October 11th

The cryptocurrency market experienced notable volatility amidst broader economic concerns. Macroeconomic uncertainty including potential US government shutdown impacts, elevated leverage levels, and thin liquidity fueled a significant $16 billion in long liquidations, pushing Bitcoin below the $110,000 threshold and impacting USD exchange rates. 20 million Russian citizens reportedly hold $10 billion in crypto. Meanwhile, the central bank is introducing guidelines for banks to engage with the digital asset market.