The cryptocurrency market capitalization, excluding stablecoins, shed roughly $2 trillion to reach approximately $1.91 trillion. Stablecoin market capitalization fell by $16 billion over three months to about $302 billion, signaling reduced liquidity reserves available for a broader market rotation. Between August 1st and 5th, liquidations totaled approximately $1.046 billion, with short sellers losing $566.39 million. Open Interest reached $114.93 billion, indicating traders are returning to perpetual markets despite the Fear and Greed Index standing at 26, firmly in fear territory since July 10th.
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