Bitcoin Updates: Crypto Market Swings Intensify Amid Whale Sell-Offs, Quantum Security Concerns, and Growing ETF Presence
- Bitcoin whale Owen Gunden liquidated his 14-year 11,000 BTC portfolio ($1.3B) in tranches to avoid market slippage, signaling bearish sentiment amid crypto's volatile weekend. - 21Shares launched the 2X Long Dogecoin ETF (TXXD) on Nasdaq, marking institutional adoption of meme coins despite DOGE's 19% 30-day price drop. - Quantum computing risks resurfaced after Ray Dalio's comments, sparking debate over SHA-256 vulnerabilities and exacerbating retail investor panic. - Peter Schiff challenged MicroStrate
The cryptocurrency sector saw significant upheaval over the weekend, highlighted by the full liquidation of one of Bitcoin’s earliest large holders, the introduction of a leveraged
Owen Gunden, a veteran
The market managed to absorb the $1.3 billion in sales without major disruption, though experts pointed out that it added strain to an already delicate environment. Bitcoin (BTC)
During this period of instability,
The ETF’s introduction comes amid a surge in altcoin fund launches, such as those for
Bitcoin’s drop to $86,767 was also driven by renewed concerns that quantum computing could compromise SHA-256 encryption,
Gold proponent Peter Schiff accused MicroStrategy’s Michael Saylor of operating a “fraudulent” Bitcoin business model dependent on issuing debt. Schiff invited Saylor to debate at Binance Blockchain Week in Dubai, claiming that MicroStrategy’s net asset value multiple (mNAV) of 1.21 exposes weaknesses
The resilience of the crypto market will be put to the test in the coming weeks. While institutional investors poured $75 million into U.S. Bitcoin ETFs in a single day,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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