Crypto Market Sees a Small Comeback
Today the crypto scene managed a modest rebound, spearheaded by Bitcoin as it tries to snag that elusive $66,000 mark.
Solana Leading the Charge
Solana (SOL) emerged as a standout win, hopping over 5% and reclaiming the $190 level. It’s doing a happy dance in a market that’s usually a bit of a slug.
Bare‑Bones Bitcoin Decline
- Bitcoin’s tide has been flat‑lined since late March, then took a nosedive.
- Two days of sharp drops wiped out more than $600 million in long crypto futures — $150 million of that belonged to Bitcoin, according to CoinGlass.
- Open interest in Bitcoin is down about 4% over the last 24 hours, hinting that investors are still holding their breath before a new rally.
ETF Outflows Washing the Vibe
Even the ARK 21Shares Bitcoin Fund (ARKB) experienced outflows of $87 million, its first since launching in January. The Grayscale Bitcoin Trust (GBTC) keeps bleeding, but ARKB’s drain is larger than GBTC’s, per SoSoValue data.
Wider Financial Dread
Negative vibes seeped into broader markets, with renewed worries that the Fed may keep rates high for longer than expected. U.S. economic activity is still rapping hard, adding to the tension.
Bitcoin Cash (BCH) Eyes the Halving
- BCH’s price slid from $700 to just under $600, a sharp correction that triggered the biggest long futures liquidations since early March — over $6 million in two days.
- Halvings tend to spark a sell‑off, but they often pave the way to a new, bullish streak that can last quite a while.
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