Here's what happened in the last 24 hours, in the crypto market,that every trader should knowโผ๏ธ
- Bitcoin & Ethereum ETFs:
Spot Bitcoin ETFs saw net outflows of $56 million, following a $186 million outflow the previous day. Ethereum ETFs also experienced withdrawals.
- Market Prices:
Bitcoin dropped to $96,000, while the total crypto market cap fell to $3.15 trillion after Federal Reserve Chair Jerome Powell reaffirmed that interest rate cuts wonโt happen soon.
- Wall Street Moves:
Goldman Sachs increased its investment in Bitcoin ETFs to $1.5 billion and Ethereum ETFs to $476 million, signaling continued institutional interest.
- Trump & Crypto:
Donald Trump appointed Brian Quintenz, a former a16z executive, to lead the CFTCโs crypto division. His administration is also exploring crypto-related investment products.
- Major Liquidations:
The market saw $120 million worth of assets liquidated in just 60 minutes, triggering heightened volatility. Bitcoin, Ethereum, Solana, and Cardano dropped as much as 28% in the last 24 hours.
