Crypto derivatives funding rates have fallen to levels last seen in the 2022 bear market, as billions in leveraged positions were liquidated.
ETH price sharply recovered as market fears eased and derivatives stabilized, suggesting that a return to $4,500 could be Ether’s next stop.
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.
Some altcoins lost over 95% of their value during Friday’s crash, which triggered the most severe and rapid liquidations in crypto history.
Bitcoin has fallen below $116,000, but select analysts remain unfazed as they anticipate solid buying to emerge at lower levels.
An $11 billion Bitcoin whale returned to crypto markets this week, likely seeking trading opportunities tied to October’s historic crypto rallies and uncertainty in the US.
Discover seven simple, proven habits — strong 2FA, safe signing, hot/cold wallet separation and recovery plans — to block phishing, toxic approvals, fake support and more.
Inflows to crypto funds have topped last year’s total, with Bitcoin dominance slipping at $30 billion while Ether and altcoins surge.
In one of their first moves in two months, the Bitcoin whale returned to short Bitcoin and Ether for hundreds of millions of dollars, betting on their short-term price decline.
AI-focused Polkadot project Phala is set to fully migrate to its Ethereum L2, betting on its ecosystem for confidential AI and GPU compute growth.