Crypto Market
Bitcoin Drops Below \$104K, SharpLink’s Ethereum Plan & IMF vs Pakistan Mining
The cryptocurrency world witnessed major movements and headlines today, from price drops and large-scale liquidations to billion-dollar Ethereum plans and regulatory concerns.
Global Crypto Market Cap Falls 2.58%
The global cryptocurrency market capitalization has declined by **2.58%**, now sitting at **\$3.24 trillion**. This downturn reflects broad selling pressure across major tokens, with investors showing caution amid market uncertainty.
Bitcoin Falls Below \$104,000, Triggers \$600M Liquidation
Bitcoin dropped under $104,000, leading to a massive $600 million in liquidations across the crypto market. Analysts suggest this could either be a short-term overreaction or a signal of broader correction after recent bullish surges.
Current BTC Price: $104,581
24H Change: -0.86%
Intraday Low: $103,289
XRP Sees Price Dip but Signals Possible Bullish Reversal
Ripple’s XRP experienced a 4% drop, trading at around $2.14. However, some market indicators are flashing potential buy signals, suggesting a possible bullish reversal in the near term.
Current XRP Price: $2.17
24H Change: -0.45%
Intraday Low: $2.10
SharpLink Files to Raise $1B for Ethereum Purchase
In a bold move, iGaming company SharpLink has filed with the U.S. SEC to raise $1 billion to purchase Ethereum for its corporate treasury. The announcement has generated significant buzz, potentially boosting institutional confidence in Ethereum.
ETH Current Price: $2,541
24H Change: -2.22%
Intraday Low: $2,494
IMF Opposes Pakistan’s Bitcoin Mining Expansion
The International Monetary Fund (IMF) has raised concerns over Pakistan’s plan to dedicate 2,000 megawatts of power to Bitcoin mining. The IMF believes this could worsen the country’s energy crisis and financial health, urging reevaluation of the strategy.
Memecoins Show Mixed Trends
Memecoins continue to generate buzz, though their performance remains volatile:
Bonk (BONK): Down 12.60%, currently at $0.00001572
Floki (FLOKI): Neutral trend but gaining visibility through a new TV campaign
Brett (BRETT): Forming bullish patterns, may rally toward $0.22
Crypto Crime in Focus: Bitcoin Theft Attempt in New York
Two individuals have been charged with kidnapping in New York after an attempted Bitcoin robbery from a wealthy Italian trader. This incident highlights the security risks still present in high-stakes crypto dealings.
Five U.S. States Pass New Crypto Laws
In a significant development, five U.S. states have recently enacted new cryptocurrency regulations, reflecting the growing legislative attention on digital assets. These changes are likely to impact taxation, investor protection, and business operations within those states.
