The cryptocurrency market experienced extreme volatility, with liquidation amounts surpassing $300 million. Over the past 24 hours, the prices of major cryptocurrencies like Bitcoin and Ethereum have fluctuated sharply, leading to liquidations affecting more than 93,000 traders. Bitcoin briefly surged to $67,800 before plummeting nearly $3,000 in an hour, then recovering much of the losses. Ethereum also followed a similar pattern, reaching $2,682 before dropping over 5% in an hour.
Tesla (TSLA, Financial), the fourth-largest Bitcoin holder among U.S. public companies, transferred approximately $7.65 billion worth of Bitcoin to an unknown wallet, raising speculation about a potential sale. This transfer moves over 11,500 Bitcoins from its wallet, leaving it with minimal holdings.
Meanwhile, BlackRock CEO Larry Fink expressed confidence in the growth of Bitcoin, suggesting its legitimacy as an investment similar to commodities like gold. BlackRock’s iShares Ethereum Trust ETF has attracted over $1 billion in net inflows within two months, and the iShares Bitcoin Trust ETF scaled up to $23 billion this year.
The identity of Bitcoin’s creator, “Satoshi Nakamoto,” remains a topic of debate, despite new claims made in an HBO documentary suggesting Canadian cryptography expert Peter Todd. Todd has denied these allegations.
