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The metric fell to $3.3 trillion on TradingView. Bitcoin’s price went through a sudden and painful crash on Friday evening and Saturday morning, dropping to its lowest position since early July. As this became the single-largest daily liquidation event with more than $19 billion wrecked, the total market cap plunged by $900 billion at one point. BTC’s Crash What a week it has been for the primary cryptocurrency. It all started on the right foot, with a surge past $124,000 last Sunday and up to $126,000 on Monday, which became a new all-time high. The asset lost some traction…

A sudden flash crash rattled crypto markets on Oct. 10, erasing billions in leveraged positions as Bitcoin, Ethereum, and other major tokens plunged before staging partial recoveries.Bitcoin fell more than 10% at its lowest point, slipping to $101,500 before rebounding to trade near $112,500 as of press time.Ethereum similarly dropped over 10% intraday before stabilizing above $3,800. Major altcoins suffered significantly steeper losses, including Solana and Dogecoin, which fell more than 30% and 50%, respectively.While Solana continues to trade below its key $200 threshold, DOGE experienced a rapid recovery and was trading above the $0.18 support level as of press…

While bitcoin BTC$112,873.59, ether ETH$3,818.39 and other major cryptocurrencies tumbled in a $19 billion liquidation event on Friday, major gold-backed digital assets bucked the trend amid the precious metal’s rally.Tokens tied to physical gold, including Paxos’ PAXG and Tether’s XAUT, were among the few to hold their ground, and even edge higher, as broader markets sank.Bitcoin lost 8.5% of its value in the last 24-hour period, while the broader crypto market plunged 12.75% as measured by the CoinDesk 20 (CD20 ) index. PAXG has meanwhile dropped just 0.23% to $3,998, while XAUt is up 0.2% to $4,010. A troy ounce…

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The European financial system is going through a quiet yet profound transformation as new information suggests Ripple has found its way into the heart of the Eurosystem’s digital framework.  According to documents shared by crypto commentator SMQKE on X, Ripple’s integration into the European financial system is through a partnership with SIA, an Italian payments infrastructure provider known for supporting many of the European Central Bank’s systems. From SWIFT To The Eurosystem Ripple has always positioned itself as a challenger to SWIFT in global payments with its…

Investors withdrew 230,000 ETH from exchanges in just 48 hours Ethereum joined the rest of the market in the past day by plummeting to a multi-month low of $3,500 before recovering slightly to $3,850 as of now. During this harrowing crash, different investors showed various behavior types, from mass selling to buying the dip. The ETH flash crash in the summer of 2017 is the closest event I can think of in comparison to what happened yesterday. Even during the Covid crash I can’t remember so many major alts losing so much so swiftly. Difference with this liquidation cascade…

A crypto whale has pocketed over $160 million in profits after correctly betting on Bitcoin and Ethereum’s recent price decline.On October 11, blockchain analysis platform Lookonchain reported that a long-term Bitcoin holder had opened more than $1.1 billion in short positions on the top two cryptocurrencies by market capitalization.Sponsored SponsoredHow Bitcoin Crash Made This Trader $160 Million RicherThe trader effectively wagered that both assets would drop in value despite their recent bullish momentum. Within just 30 hours, that prediction proved right—Bitcoin and Ethereum prices fell sharply, earning the trader an estimated $160 million in realized profit.Following the sell-off, the trader…

According to economist Timothy Peterson, Bitcoin’s recent slide could be a short-lived wobble if October’s history repeats itself. He pointed out that drops larger than 5% in October are rare — they have occurred just four times in the past 10 years — and when they happened, Bitcoin often bounced back quickly. Related Reading Historical October Bounces Reports show the four October setbacks came in 2017, 2018, 2019, and 2021. In the week after each fall, recoveries ranged from modest to sharp: gains of 16% in 2017, 4% in 2018, and a big 21% in 2019, while 2021 was the…

This is an analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole.Bitcoin BTC$112,873.59 bounced back to around $121,500 after dipping below $120,000 late Thursday. Further gains may be difficult to achieve or could prove short-lived for two reasons.First, momentum indicators on short-term charts have turned bearish. On the hourly chart, the 50-, 100-, and 200-candle simple moving averages (SMAs) have aligned bearishly, now stacked one below the other – a classic bearish configuration. Additionally, the pattern of consecutive lower highs points to weakening buying pressure.BTC’s hourly candlestick chart. (TradingView) Second, key ETFs are signaling a risk-off sentiment. The…

Tether’s accumulation of United States Treasuries puts the stablecoin issuer on a path to enter the top five foreign holders by 2033 under a realistic acceleration case, based on current balances, stated purchase activity, and the moving threshold set by the U.S. Treasury’s TIC data.The projection assumes Tether continues adding to its book at a higher annual net pace each year, while the fifth-place line among foreign holders continues to shift.As of June 30, the firm held about $127 billion of U.S. Treasury exposure, split between roughly $105.5 billion of direct bills and $21.3 billion of indirect exposure.This places Tether 18th…

Online prediction market Kalshi has raised more than $300 million at a $5 billion valuation as prediction markets move into the financial mainstream, according to a report by the New York Times on Friday.The company will now allow users in over 140 countries to place bets, marking its first major international expansion, the article said.Kalshi projects $50 billion in annualized trading volume this year, up from $300 million last year, and now holds more than 60% of global market share, surpassing rival Polymarket.The funding round was led by major investors including Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures,…