Episode 517
📍 Ether's price drop has moved closer to triggering a series of $340 million on-chain liquidations on collateralized debt platform MakerDAO, with three positions worth $109-126 million each at risk of liquidation if ETH drops below $1,900.
📍 Crypto bulls have lost over $1.2 billion in the past 24 hours as the market slump worsened, with bitcoin futures registering over $530 million in liquidations and ether bets seeing over $294 million evaporated.
📍 The Crypto Fear and Greed Index has dropped to a five-month low of 25, indicating extreme fear in the market, but some analysts believe this could be a buying opportunity as assets are considered oversold and a potential deleveraging event could present a key buying opportunity to savvy traders.
📍 Bitcoin has crashed below $88,000, its lowest level in three months, with analysts attributing the decline to macro uncertainty, AI weakness, and risk-off sentiment, while some traders are "buying the dip" in anticipation of a rebound.
📍 Despite the market downturn, Japanese firm Metaplanet has purchased an additional 135 Bitcoin for $13 million, raising its total holdings to 2,235 BTC, with the company's strategic accumulation continuing despite Bitcoin's recent volatility.
