❕ Crypto Market Drops as Scimitar Capital Reportedly Liquidates Holdings
A sudden selloff in altcoins is rumored to be linked to Scimitar Capital’s decision to liquidate its crypto holdings, returning capital to investors. The market-wide drop saw Bitcoin fall 4% and the global crypto market cap shrink by 5.74% to $1.04 trillion. Altcoins like Cardano (ADA) and Solana (SOL) took the biggest hit, losing over 24% in the past 24 hours. Reports suggest Scimitar offloaded $2 billion in altcoins, triggering the decline, though the firm’s online presence remains limited.
