Bitcoin plunged below $100,000 for the first time in five months, hitting an intraday low of $99,980 before rebounding to $101,600.
Total liquidations exceeded $1.3 billion, with longs accounting for $1.113 billion, marking one of the largest single-day deleveraging events since May 2021.
Spot Bitcoin ETFs saw $578 million in outflows, their fifth straight day of redemptions; Ethereum ETFs lost $219 million, while Solana ETFs extended their winning streak with $14.83 million in inflows.
Crypto market capitalization fell 2.5% to $3.39 trillion, erasing $289 billion in value within 24 hours.
Short-term holders (STHs) continue to capitulate, sending 30,300 BTC to exchanges at a loss, while the STH-SOPR hovers near 1, reflecting persistent stress.
Bitcoin futures open interest collapsed by over $10 billion, a washout comparable to May 2021 and the FTX 2022 unwind, a structural reset more than full capitulation.
THORChain’s history of centralization, security failures and questionable money flows is well documented. But are today’s critics getting the technical and legal arguments right – and are they applying the same standards to other major DeFi projects?
Three months after Kraken's parent closed its acquisition of the Hong Kong stablecoin card issuer, Reap is building out Mexico as a second hub and pitching AI agents as its next growth channel.
The launch gives a stablecoin native placement on up to 82 million US devices, though at launch users can only hold and send USDC, and the announcement does not say how they will get it into the wallet.
The basic agreement names the venture and splits ownership for the first time, leaving the US connectivity startup in control and its two Japanese shareholders as minority partners.
