Crypto derivatives funding rates have fallen to levels last seen in the 2022 bear market, as billions in leveraged positions were liquidated.
The crash was caused by a perfect storm of short-term factors, causing $20 billion in liquidations — the worst 24-hour drain in crypto history.
The selling in Bitcoin and altcoin is not over yet, but data suggests that the nature of the CME Bitcoin and equities futures market open on Sunday will determine the direction BTC price takes.
After yesterday’s multibillion dollar leveraged crypto wipeout, traders are licking their wounds — but those who cannot remember the past are condemned to repeat it.
Crypto.com CEO Kris Marszalek has urged regulators to probe exchanges after $20 billion in liquidations, far outpacing any previous market crash, including FTX.
BTC’s price decline is relatively less severe than what occurred before significant reversals in the past, suggesting that Bitcoin may continue its uptrend.
Satoshi’s $100-billion Bitcoin hoard remains untouched. In case it enters the market, it might have unexpected outcomes.
The crypto market plunge on Friday was partly due to crypto traders reaching an “all-time impatience” with the market,” says crypto trader Alex Becker.
The US-China talks will “be central” to crypto traders’ market moves in the short-term, sentiment platform Santiment said.
Bitcoin’s $16,700 drop on Friday triggered $5B in futures liquidations, exposing a fragile market structure and renewed volatility despite this year’s spot BTC ETF-driven optimism.