Hot Topics
- •Bitcoin experienced a flash crash, dropping to approximately $80,000 amidst significant market volatility and liquidations.
- •Exactly one year after MicroStrategy (MSTR) reached its all-time high, the stock has seen a 68% decline, coinciding with Bitcoin's fall from $126,000 to a low of $81,385.
- •Tether's gold reserves have increased to 116 tons, positioning it as the largest corporate holder and rivaling small central banks. This growth is attributed to USDT profit-driven buying.
Market Updates
- •Kalshi has successfully raised $1 billion at an $11 billion valuation, intensifying its competition with rival Polymarket in the prediction market funding race. Polymarket is targeting a valuation of $12-15 billion.
- •JPMorgan has identified retail investors selling $4 billion in spot Bitcoin and Ethereum ETFs as the primary driver of the current crypto market correction. This selling activity is noted as being separate from ongoing equity buying.