Crypto Market Volatility
The sector saw sharp declines, with Bitcoin dipping below $76,500—a 2% drop—and Ethereum plunging over 7% to around $2,225. The total market cap fell nearly 3%, pulling back to $2.65 trillion amid thin liquidity and ongoing volatility.
This turmoil triggered significant liquidations, wiping out about $312 million in leveraged positions. Longs took the biggest hit at $245 million, while shorts lost $67 million, according to CoinMarketCap data. These numbers highlight how over-leveraged traders got rekt in the downturn.
Trump's nomination of Kevin Warsh as Fed Chair sparked a hawkish shock. Warsh's stance against aggressive rate cuts has fueled fears of tighter monetary policy, denting risk appetite and exacerbating the sell-off. Despite pro-crypto moves like the GENIUS Act and talks of the CLARITY bill passing, these haven't stemmed the bleed yet. Broader concerns over Trump's tariffs and fiscal plans are debasing the dollar, pushing investors toward safer assets.
Overall, this signals a potential end to the speculative bull run, with crypto entering a consolidation phase. Stay vigilant—more twists ahead.
Stay tuned for tomorrow’s pulse!
