Crypto Market Volatility
Bitcoin surged past $94,000, marking its highest point in weeks, before settling around $93,700—a solid 1% daily gain and over 7% since January 1. The total crypto market cap ballooned past $3 trillion, up about 3%, with Ethereum climbing 2% to $3,227 and XRP jumping 13% to $2.4. Memecoins and AI tokens led the charge, fueled by fresh institutional inflows into spot ETFs, totaling around $697 million yesterday.
This volatility hammered leveraged positions, liquidating over $420 million in futures bets—mostly shorts—as the rally caught bears off guard. It's the highest single-day wipeout since October.
On the political front, the big news was U.S. forces capturing Venezuela's Maduro, sparking rumors of a massive "shadow reserve" of 600-660k BTC that could hit the market. This geopolitical jolt boosted Bitcoin as a safe-haven asset, reducing perceived risks and driving prices higher. Meanwhile, Trump's tariff threats on India for buying Russian oil added global tension, but crypto shrugged it off amid optimism. However, TD Cowen warns U.S. crypto legislation might drag to 2027, potentially slowing regulatory clarity.
Overall, politics amplified the bull run, but watch for more twists—stay nimble out there.
Stay tuned for tomorrow’s pulse!
