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Crypto Markets Today: BTC Price Nears June Low as $1.4B in Liquidations Rock Altcoins

The cryptocurrency market faced a significant sell-off, with Bitcoin nearing its lowest price since June and Ethereum dropping to its lowest value since August. Approximately $1.4 billion in crypto derivatives positions were liquidated as selling intensified across major exchanges. The strength of the U.S. dollar, particularly the DXY index rising above 100, contributed to the bearish sentiment affecting risk assets like Bitcoin. As a result, popular altcoins such as aster, Solana, and BNB saw substantial declines. Despite the downturn, privacy coins like Monero and Zcash showed resilience, outpacing broader market trends. A notable increase in implied volatility for Bitcoin was observed, driven by changing futures trends, with ether futures experiencing significant interest. This volatility hints at ongoing cautious sentiment among traders, particularly concerning potential price reversals. Overall, the market is grappling with uncertainties linked to macroeconomic factors and shifting trader positioning across derivatives markets.

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Record $1.26B Outflow Hits BlackRock Bitcoin ETF as Bearish Options Cost Soars

BlackRock's Bitcoin ETF, IBIT, has encountered a monumental net outflow of $1.26 billion in November, marking the most significant withdrawal since its inception in January 2024. This outflow comes amidst a price decline of 16%, bringing the share price down to $52, a level not seen since

Mastercard Picks Polygon to Bring Verified Usernames to Self-Custody Wallets

Mastercard has announced its collaboration with Polygon to introduce a system allowing users to send cryptocurrencies using verified usernames instead of lengthy wallet addresses. This new feature, referred to as the Mastercard Crypto Credential, aims to enhance security and user-friendliness in crypto transactions. By utilizing the services of Mercuryo, a

Bitcoin Dominance is Bleeding With Price, But Market Observers Say Altcoin Season is on Hold

Bitcoin's recent decline in price and dominance rate indicates a broader market deleveraging rather than a straightforward rotation into altcoins. While Bitcoin has dropped nearly 16% this month, its dominance has slipped from 61.4% to 58.9%. Despite speculation about an upcoming 'altcoin season', many

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