Crypto Market Shake-Up: Big Profits, Bitcoin Dips, and El Salvador’s BTC Move:
Ethereum Trader Nets $16M Amid ETH Decline:
A crypto investor secured nearly $15.7 million in unrealized gains by shorting Ethereum as its price fell to $3,000. Using 50x leverage, they entered the trade at $3,388, with a liquidation level of $4,645, as per Hypurrscan data.
Additionally, they raked in $2.3 million in funding fees. While high-leverage trading can yield massive profits, it comes with steep risks—one trader lost $161,000 in early 2024 after liquidation.
Bitcoin Slips Below $100K After Trump’s Trade Tariffs:
Bitcoin dropped under $100,000 for the first time in nearly a week after Donald Trump signed an executive order imposing fresh import duties:
25% on goods from Canada and Mexico
10% on Chinese imports
10% on Canadian energy exports
In response, Canada, China, and Mexico retaliated, fueling concerns about inflation and rising interest rates. These economic tensions pushed investors toward more stable assets like bonds and gold.
El Salvador Expands BTC Holdings Despite IMF Deal:
On February 1, El Salvador added two more Bitcoin to its reserves, bringing its total stash to 6,055 BTC (worth approximately $612 million).
Despite commitments to scale back Bitcoin adoption under an IMF agreement, the nation continues to accumulate BTC as part of its long-term economic strategy.