Posted 1/3/2024, 2:55:50 PM
Crypto Market Sees $500M in Liquidations Amid Bitcoin, Ethereum Price Plunge Sparked by Regulatory Concerns
- Nearly $500 million in crypto trades liquidated in last hour due to market crash caused by Bitcoin and Ethereum price drops
- Speculation that Matrixport report on SEC rejecting Bitcoin ETFs was catalyst, but other signs of insider selling beforehand
- Coinbase insiders, MicroStrategy co-founder Michael Saylor sold crypto stocks prior to crash
- Institutions like Alameda Research and Celsius Network moving Ethereum to exchanges
- Bitcoin miners sold 4,000 BTC worth $176 million in last 10 days