Bitcoin

Connor's joined by CoinMarketCap's head of research Alice Liu to discuss a wild week in crypto.

"Investors are more likely to sell and crystallize losses when they believe the market will fall further, undermining the HODLer mentality."

Also today, we find out how Bitcoin reacted after the Federal Reserve unveiled its biggest interest rate hike since 1994.

Damping down fears surrounding the $205 million loan that the firm has with SIlvergate Bank, which is backed by Bitcoin, he said MicroStrategy is "10x overcollateralized right now."

Fed Chairman Jerome Powell is now navigating a tricky tightrope as he attempts to curb inflation without triggering a recession.

Michael Saylor is vowing to "HODL Bitcoin through adversity" — but MicroStrategy's now in margin call territory on its $205 million BTC-backed loan.

Also today, MicroStrategy is feeling the heat, Coinbase is laying off 1,100 staff... and some traders try an unusual method to relieve stress.

Back in March, the publicly listed company borrowed $205 million from Silvergate Bank in its quest to snap up more Bitcoin — using the BTC already in reserve as collateral.

CoinMarketCap Research's first piece examines what's happening in the ongoing Celsius Network crisis — and how to use CoinMarketCap to do your own due diligence before investing.

Monday's mayhem has been nothing short of calamitous for MicroStrategy. The company is now nursing paper losses of $1 billion on its Bitcoin investment.

The world's biggest cryptocurrency slid to lows of $20,950 in the early hours of Tuesday — hours after it was officially confirmed that the S&P 500 was in a bear market.

Estimates in recent weeks have suggested that the value of its crypto has dwindled by $40 million — a figure likely exacerbated by the recent acceleration in selloffs.

While CoinMarketCap's data shows there's little to cheer about — with the market cap of all cryptocurrencies now below $1 trillion — Bitcoin did rebound after reaching depths of $20,950.82.

If Bitcoin falls much further, MicroStrategy could face margin calls on its loans — and the company's share price may suffer too.

Bitcoin has wiped all of its gains from the past 18 months — and things might be about to get even worse.

Selloffs were also seen across global markets on Monday — fueled by fears of rampant inflation, imminent interest rate hikes and the prospect of recessions in major economies.

Inevitably, parallels are now being drawn with the sudden and dramatic collapse of Terra — with LUNA and UST racking up double-digit losses in a matter of hours as they began a death spiral.

It's hoped that these classes will "empower the community with knowledge" and remove the hurdles that can surround getting a financial education.