TechFlow reported on February 5 that crypto analyst Matthew Hyland said the cryptocurrency market may not recover to December's levels until April. He noted that on February 3, the "largest liquidation event in crypto history" occurred, with over $2.24 billion in positions liquidated within 24 hours. Ben Zhou, co-founder and CEO of Bybit, estimated the actual total liquidations could have reached $8-10 billion. Hyland stated that based on similar market turmoil events in 2020 and 2022, full market recovery typically takes more than two months.
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