Bitcoin crashes below $53K wiping out $600M in leveraged longs
A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and other cryptocurrencies tumbled sharply.
A sudden crypto market nosedive has seen over $600 million in leveraged long positions wiped out, as Bitcoin, Ether and other cryptocurrencies tumbled sharply.
Jump still holds at least $125 million of staked-Ether, blockchain data from Arkham shows.
The crypto market saw its largest three-day sell-off in 12 months amid weak jobs data and revived fears of a recession leading to a tumble in the equities market.
Katalin Tischhauser, head of investment research at Signum Bank, has joined other commentators who suggested that spot Solana and Cardano ETFs are unlikely, though VanEck may disagree.
The company expressed worries that its detection system could somehow “stigmatize” the use of AI among non-English speakers.
The brain-computer interface has already changed lives, but it’s unclear how it will give people eagle vision or make their neurons fire more quickly.
Bitcoin may find buyers close to $56,000, benefitting select altcoins such as SOL, XRP, KAS, and AAVE.
BTC price weakness takes the market below $59,000 for the first time since mid-July as “relentless” Bitcoin selling pressure persists.
The bullish outlook appears despite the ongoing Bitcoin sell-off, which is being led by the growing risks of a recession in the United States.
The future of Bitcoin rollups will depend on continued innovation and optimization in data compression and scalability.