Bitcoin got off to a solid start early Monday, climbing back above the $100,000 price point following an up-and-down few days after first claiming the milestone last week. But it didn’t last for long, and by about 4pm ET, BTC had briefly plunged below $95,000, per CoinGecko, causing bloodshed across the crypto markets.
While Bitcoin has rebounded to about $97,000 as of this writing, major altcoins are seeing bigger percentage dips, with XRP down 13%, Dogecoin dipping 11%, and Solana and Ethereum both shedding about 8% of their respective value.
Liquidations have skyrocketed as a result, with over $800 million worth of positions—nearly all longs—rekt in a single hour, per data from CoinGlass, pushing the 24-hour tally above $1.5 billion across all crypto assets.
Dogecoin, XRP and Solana Slide as Bitcoin Price Falls Below $97K
Bitcoin briefly rose back above $100K on Monday morning, but has since fallen, dragging many other major assets along with it.
Amazon Urged to Buy Bitcoin as Microsoft Shareholders Consider BTC Proposal
The National Center for Public Policy has recommended Amazon convert at least 5% of its assets into Bitcoin, right as Microsoft considers its own BTC move.
El Salvador to Weaken Bitcoin Law to Help Secure IMF Funding: Report
El Salvador will soon reach a deal with the International Monetary Fund, per a report—but only by softening its Bitcoin law.
MicroStrategy Adds Billions More in Bitcoin in Fifth-Straight Weekly Buy
Michael Saylor's software firm now has $42 billion worth of Bitcoin after adding 21,550 BTC in MicroStrategy's fifth consecutive weekly buy.
💬 Quote of the Day
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“Caroline Crenshaw was a failure as an SEC Commissioner and should be voted out.”
🎮️ GG: This Week in Crypto Games: $250K Pokémon Card Auction, 'Pixels' $4M Competition, 'Nifty Island' Token Date
Catch up on this week’s biggest crypto and NFT gaming news and find some weekend reads in our latest roundup.
🤖 EMERGE: Tencent's New AI Video Generator Takes On OpenAI's Sora For Free
Tencent says its model is better than Runway Gen-3, Luma 1.6, and three leading Chinese video generation tools, according to human tests.
🎭️ SCENE: Leap of Faith: Auction to Benefit Children's Cancer Research Attracts Major Crypto Artists
Spurred by personal tragedy, crypto industry creator Leap has enlisted over 30 artists for a charity auction to benefit St. Jude Children's Research Hospital.
📚 Dive Deeper
📹️ WATCH: MYRIAD Public Beta Now Live
Now launched in public beta, Decrypt and Rug Radio present MYRIAD, the evolution of their interconnected media ecosystem with on-chain prediction markets. Visit myriad.markets to get started!
🎓️ LEARN: What is Quantum Computing? A Beginner's Guide to the Computer of the Future
Quantum computing is touted as the next giant leap forward for computing—but it could also be crypto's undoing. Find out how it works.
