$1B liquidated in 24-hour crypto bloodbath, but should you panic?
Description
The past 24 hours have been an absolute crypto bloodbath. More than $1 billion of long positions were liquidated when prices tanked and traders were "unprepared for the bad news." Spot Bitcoin ETFs saw record one-day outflows. So, why are most analysts calm and even positive? Aside from the chaos, the proposal to increase the Ethereum gas limit picks up steam, Craig Wright gets a one-year prison sentence suspended for two years for contempt of court, and the Tornado Cash co-founder wants his charges dropped following a verdict that OFAC "overstepped!" Yes, it's a busy episode today!
Further reading:
- Crypto liquidations hit $1B as traders were ‘unprepared for bad news’
- Bitcoin ETFs hit by record $671.9M outflows in 1 day
- Crypto chatter about ‘buying the dip’ hits 8-month high: Santiment
- Craig Wright given suspended one-year sentence for contempt of court
- 10% of Ethereum validators signal gas limit increase
- Tornado Cash dev wants charges dropped after court said OFAC ‘overstepped’
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