🚀 The End of the Bull Run?
posted 19 Mar 2024
According to Coinglass, in the last 24 hours, over $529 million worth of traders' positions were liquidated. The majority were betting on growth, but things didn't turn out as expected.
Bitmex users witnessed Bitcoin plummeting to $8,900, likely a result of liquidity shortages. The crypto exchange has initiated the investigation of the incident.
Inflows and outflows for spot Bitcoin ETFs on March 18, 2024 Source: sosovalue.xyz
Spot Bitcoin ETFs suddenly experienced an outflow of assets exceeding $154 million on March 18. However, this situation was primarily due to Grayscale, as more than $642 million was withdrawn from GBTC that day.
Peter Schiff, a well-known critic of cryptocurrencies and gold proponent, seized the moment to engage with the crypto hype, reminding holders of November 2021 when Bitcoin was trading at $69,000.
Schiff noted the widespread optimism during that period, only for BTC to plummet to $16,000 the following year. He warns that the market may face an even more substantial collapse in the future.
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