$ETH ’s liquidation volume moved first. In a $1.1 billion forced-liquidation event, liquidations of $ETH exceeded those of $BTC , even though $ETH ’s market cap is only one-fifth of $BTC ’s. The same amount of money, concentrated in a smaller pool, pushes out a larger share.
Mining company MARA Holdings sold 996 $BTC , worth about $81.13 million at current prices. Coins earned through hash power are lining up on the sell side, as the company seeks cash for its operating accounts.
Regulators also set a deadline. ESMA gave non-MiCA stablecoins three months to exit and brought custody services within regulatory scope. Once the timeline is on paper, institutions have to adapt.
Three trends converged in the same hour: liquidations were reducing exposure, miners were converting to cash, and regulators were setting an exit date. The price of crypto has never been determined by just one factor.
Mining company MARA Holdings sold 996 $BTC , worth about $81.13 million at current prices. Coins earned through hash power are lining up on the sell side, as the company seeks cash for its operating accounts.
Regulators also set a deadline. ESMA gave non-MiCA stablecoins three months to exit and brought custody services within regulatory scope. Once the timeline is on paper, institutions have to adapt.
Three trends converged in the same hour: liquidations were reducing exposure, miners were converting to cash, and regulators were setting an exit date. The price of crypto has never been determined by just one factor.