Crypto Market Volatility
Bitcoin has slipped below $70,000, trading around $69,345, down about 2.24% amid rangebound action. Ethereum followed suit, dropping 2% to $2,051, while the overall market cap hovers at $2.44 trillion in extreme fear mode. This volatility wiped out gains since Trump's win, reflecting broader unease.
Liquidations hit hard, totaling $256.46 million, impacting over 95,000 traders. Long positions lost $122.54 million, shorts $133.92 million, with Bitcoin and Ethereum seeing the biggest hits at around $96 million and $83 million combined. Though down 28% from prior levels, this signals ongoing leverage risks in a jittery market.
The White House reconvened crypto and banking reps to hash out stablecoin yield disputes, but the CLARITY Act remains stalled in the Senate. Trump's nomination of hawkish Kevin Warsh as Fed chair spooked investors, hinting at tighter liquidity. Fed's Waller noted fading crypto hype and regulatory gridlock, eroding confidence. These developments fueled the downturn, delaying pro-crypto reforms and pressuring prices. Stay vigilant—opportunities may emerge from this fear.
Stay tuned for tomorrow’s pulse!
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