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Bitcoin price sees sharp sell-off as today’s downside move liquidates heaps of BTC and altcoin traders who were caught offside.
The total crypto market cap lost over $200 billion in a few hours.
Aside from these meme coins, the other massive losers in the past 24 hours are CORE, DYDX, W, CFX, and more.
The crypto market sees a sharp correction as the U.S. stock market waves some concerning red flags.
Cryptocurrency liquidations hit $468.2 million between about 2:00 p.m. ET and 3:00 p.m. ET on April 12.Total crypto liquidations in the past 24 hours reached $858.15 million among 270,018 traders, crypto liquidations tracker CoinGlass finds.
VeChain and Neo seen as proxy bets on Hong Kong becoming Asia’s first city to approve bitcoin and ether ETFs, analysts said.
- 07:35Fasanara Capital withdrew 900 ETH from CEX about 10 minutes ago, equivalent to approximately 2.36 million US dollarsAccording to iChainfo monitoring, the investment fund Fasanara Capital (0x8546...9a9c) withdrew 900 ETH from CEX (0x56ed...b17f) about 10 minutes ago, equivalent to approximately 2.36 million USD.
- 07:30MakerDAO is considering abandoning the Sky brand and will conduct a public opinion survey on November 4thAfter reshaping the brand and successfully launching the USDS stablecoin, MakerDAO is considering abandoning the Sky brand. The USDS stablecoin was launched in August, aiming to provide native token rewards and operate alongside the existing DAI synthetic stablecoin, which remains unchanged. On-chain data shows that its supply volume is 1.2 billion USD with a savings rate of 6.5%, and community members generally believe this release has been successful. Sky co-founder Rune Christensen is currently considering three solutions to address community concerns: continue using Sky as a core brand, doubling down on its recent development momentum; repositioning the Maker brand back to its original identity and restoring MKR as the only governance token; or returning Maker under a new brand consistent with current ecosystem while maintaining its existing trustworthiness and stability. MakerDAO has spent 13.79 million DAI and 9535 MKR (a total of approximately $25 million) on branding overhaul. Christensen will hold a community conference call to collect feedback about branding reconstruction, then an official governance poll will be conducted by this platform on November 4th to determine next steps.
- 07:24Trader: Whether Trump or Harris wins, Bitcoin will rise to 80,000 US dollarsAccording to CoinDesk, despite the market's general belief that Trump's election victory would be more favorable for Bitcoin, analysts say that regardless of the U.S. election results, Bitcoin is expected to break through its historical high. Recent data from the cryptocurrency options market shows that bullish Bitcoin options from mid-to-late November are concentrated at levels between $75,000 and $80,000. Analysts point out that macroeconomic factors such as expectations of Federal Reserve rate cuts and stock market rises also support the possibility of Bitcoin hitting $80,000 before year-end.
