Bitcoin Plunges, Crypto Market in Turmoil

Bitcoin plummeted this week, losing five percent in a day and twenty-one percent in a month, pulling down other cryptocurrencies like Ethereum and XRP. This sudden sell-off triggered six hundred thirty-seven million dollars in liquidations, with long positions accounting for five hundred sixty-eight million dollars. Factors contributing to the crash include comments from Bitcoin holders about potential sales and concerns over Tethers solvency. Despite the recent drop and bearish sentiment, prediction markets suggest only a twelve percent chance of a full-blown crypto winter, indicating long-term investor confidence.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.