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Understanding Bitcoin's Volatility: The Role of Short-term Holders and the Importance of Stabilizing Above Crucial Levels
Quick Take High-leverage crypto trader James Wynn lost another $25 million in a liquidation event on Wednesday, according to LooksOnChain. Wynn took out a second leveraged $100 million Bitcoin position just days after a high-profile liquidation on a billion-dollar bet. The trader still has an open long position of $82 million on Bitcoin at 40x leverage, with a liquidation price of $103,930.
Quick Take The hearing was focused on a bill called the Digital Asset Market Clarity Act, known as CLARITY. Some Democrats at a House Financial Services Committee hearing raised issues with Trump’s involvement in crypto.
Quick Take JPMorgan & Chase intends to let its clients use cryptocurrency assets as loan collateral for certain cryptocurrency exchange-traded funds (ETFs) including BlackRock’s iShares Bitcoin Trust. The bank will include a wealth-management client’s crypto holdings when assessing their total net worth and liquid assets when determining the amount a client can borrow against their assets, Bloomberg reports.
- 17:53Galaxy Digital received 21,035 ETH an hour ago and deposited 5,000 ETH into an exchangeAccording to Foresight News, as monitored by The Data Nerd, Galaxy Digital received 21,035 ETH (worth $81.08 million) one hour ago and subsequently deposited 5,000 ETH (worth $19.28 million) into an exchange. Meanwhile, Cumberland also deposited 10,592 ETH (worth $40.79 million) into an exchange.
- 17:53Antelope Enterprise AEHL Signs $50 Million Financing Agreement, Plans to Acquire BitcoinForesight News reports that Antelope Enterprise Holdings Limited (AEHL), a Nasdaq-listed company, announced today that it has signed a securities purchase agreement with the U.S. investment firm Streeterville Capital, securing a total financing amount of $50 million. According to the agreement, the funds will be provided in installments over 24 months and will be dedicated exclusively to purchasing Bitcoin.
- 17:53Ethena Launches Liquid Leverage Feature on AaveForesight News reports that Ethena Labs has launched the Liquid Leverage feature on the Aave platform, allowing users to earn promotional rewards (currently with an annualized yield of around 12%) and standard lending rates by depositing 50% sUSDe and 50% USDe.