Crypto Market Volatility
Bitcoin rebounded sharply from below $60,000 to around $71,000, boosting the total market cap back above $2.4 trillion. However, this volatility triggered massive liquidations, wiping out about $350 million in positions—mostly shorts at $180 million versus $34 million in longs. Ethereum and Solana saw similar pain, reflecting a short squeeze amid recovering sentiment.
Key news includes the Senate advancing a crypto bill to expand CFTC oversight, which could bring clearer regulations and boost institutional confidence. However, Trump's nomination of Kevin Warsh as Fed chair—seen as hawkish—sparked initial selloffs, amplifying fears of tighter monetary policy. Add in new tariffs on China and a House probe into Trump's crypto ties, and we've got heightened uncertainty.
Overall, these developments fueled the rebound but underscore crypto's sensitivity to macro shifts. While regulation offers long-term stability, policy risks could keep volatility high.
Stay tuned for tomorrow’s pulse!
