Crypto Prices Today: Crypto Tumble as Selloffs Intensify
- Record liquidations occurred over the weekend due to a market downturn, resulting in over $1.2 billion in Bitcoin long positions being wiped out in a single day.
- Bitcoin traded close to $62,000, and Ethereum neared a drop below $3,000 amidst the slump in crypto prices.
- The cryptocurrency market experienced a 4.00% decline, lowering the total market capitalization to $2.38 trillion.
Crypto currency market dips 4%, hitting $2.38 trillion
Hong Kong accepts Bitcoin and Ethereum ETF applications, igniting crypto market catalyst.
The week began poorly for US spot Bitcoin ETFs, as net inflows dipped by approximately $37 million.
Major Events To Watch
Crypto Fear and Greed Index:
The "Fear and Greed Index" has dropped by 9 points, indicating selling pressure and now stands at 65 out of 100. However, despite this decrease, the overall market sentiment remains pessimistic.
Latest Market Update:
#Bitcoin ($BTC) fell below $62,000 on Tuesday due to escalating Iran-Israel tensions.
Other top altcoins like Ethereum ($ETH), Dogecoin ($DOGE), Ripple ($XRP), Solana ($SOL), and Litecoin ($LTC) also saw drops in value.
The #CORE token saw the most significant gain, jumping over 59% in a 24-hour period.
#SEI emerged as the biggest loser, experiencing a 24-hour dip of over 10%.
Total crypto market volume in the last 24 hours: $115.67B, showing a decrease of 0.89%.
DeFi volume stands at $9.22B, representing 7.97% of the total crypto market 24-hour volume.
Stablecoins contribute $108.02B to the total volume, comprising 93.39% of the crypto market's 24-hour volume.
Bitcoin's dominance sits at 54.20%, marking a slight decrease of 0.04% within the day.
Major Worldwide News Update:
After Hong Kong greenlit spot ETFs, Bitcoin rallied to $66,500 before settling near $63,000 amid rising tensions between Iran and Israel. Turmoil persists in the crypto market as Middle East tensions escalate. Iran's strikes on Israel triggered a 15% market cap plunge, with numerous coins experiencing significant losses.
Senators Warren and Grassley request records of CFTC Chair Behnam's communications with FTX's ex-CEO, Bankman-Fried, amidst the exchange's bankruptcy. They aim to scrutinize regulatory oversight and potential conflicts of interest. Meetings and emails between Behnam and FTX executives raise concerns about market regulation and financial product approval processes.
Trust Wallet warns iPhone users to disable iMessage due to a zero-day exploit threat targeting the platform. The exploit could seize control without user interaction, posing a risk to high-value accounts. Industry skepticism arises, urging caution in spreading unverified alerts. Over 1.2 million users viewed the warning. Apple hasn't responded.
BlackRock's BTC ETF records sole inflows among U.S. spot Bitcoin funds over two days, with others stagnant or facing outflows. iShares Bitcoin Trust (IBIT) attracted $73.4 million, while Grayscale Bitcoin Trust (GBTC) saw $110.1 million in outflows. Total ETF flows show net outflows of $91.8 million. Bitcoin's volatility persists amidst global events.
OKX launches X Layer, an Ethereum-based layer-2 network for lower fees and interoperability. Built with Polygon CDK, it offers faster transactions and EVM compatibility for DApps. OKX aims for seamless Web3 integration, with over 50 DApps already deploying. VanEck predicts $1 trillion market cap for layer 2s by 2030.
Bitcoin and the broader crypto market initially rebounded in Asian trading after Hong Kong's ETF launch, but slumped later due to US market decline. Treasury yields surged on robust consumer spending data, pushing Bitcoin down over 4%. CEO Kris Marszalek anticipates Bitcoin halving-related selling but expects long-term strength. BlackRock's IBIT saw $73 million inflows, while GBTC faced $110 million outflows.
South Korea's "crypto tax crackdown" extends to Yeongcheon city, where authorities intensify collection efforts on unpaid tax bills. New software allows them to track crypto holdings and freeze wallets of "tax dodgers." License plate retention teams patrol to impound vehicles. Rising Bitcoin prices prompt increased enforcement, with officials seizing millions from delinquents nationwide in 2023.
COIN GABBAR Views: Could Bitcoin's recent dip be a sign of pre-halving anxiety? As FOMO fades, is there a risk of a 50% crash? Will Bitcoin maintain support at $60,000? Could escalating Middle East tensions further impact the crypto market? To get latest news Stay tuned us at coingabbar
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