Crypto Market Volatility
The market saw some consolidation with mild dips. Bitcoin hovered around $90,300, down about 1%, while Ethereum slipped 0.9% to just over $3,000. Altcoins like XRP and Solana followed suit, with the overall market cap dropping 0.8% amid cautious trading and fading post-rally momentum. Volatility flushed out leverage, leading to roughly $287 million in total liquidations—mostly longs at $215 million, per Coinglass data. This wiped out over 99,000 traders, highlighting the risks in this choppy environment.
On the political front, key developments stirred sentiment. The Senate is gearing up for a vote on landmark crypto legislation next week, potentially clarifying regulations for stablecoins and DeFi. However, Trump's denial of a pardon for Sam Bankman-Fried and warnings of delays from 2026 midterms added uncertainty. Meanwhile, SEC Commissioner Caroline Crenshaw's exit paves the way for a pro-crypto all-Republican panel, which could ease enforcement and boost adoption.
Overall, these political shifts might stabilize the market long-term, but short-term jitters could keep volatility high. Stay vigilant—crypto's future looks bright, but buckle up.
Stay tuned for tomorrow’s pulse!
