Bitcoin

Bitcoin’s price plummeted to around $53,000, marking a loss of over $17,000 since last Monday. This drop represents one of the worst weekly performances in the cryptocurrency’s history.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6608a89f84df443dbba9e426637415c1.png" /><h3 id="840-million-in-leverage-positions-liquidated-amid-market-crash">$840 Million in Leverage Positions Liquidated Amid Market Crash</h3>In the past 24 hours, an astonishing $840 million worth of leveraged positions were <a href="https://cryptosheadlines.com/crypto-market-crash-800m-liquidated-as-japans-nikkei-falls-7/" rel="noopener noreferrer nofollow">liquidated due to the market crash</a>. This sudden downturn has led to significant turmoil in the crypto space.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/90c09eda3e254090b809e09d234da001.webp" />Source: CoinglassMarket analysts have pointed out three main reasons for the recent <a href="https://cryptosheadlines.com/j-p-morgans-chief-strategist-warns-of-20-stock-market-crash/" rel="noopener noreferrer nofollow">market crash</a>. These factors are the weak US economy, uncertainty about the US <a href="https://cryptosheadlines.com/rich-dad-poor-dad-authors-important-statement-on-bitcoin-vs-the-federal-reserve/" rel="noopener noreferrer nofollow">Federal Reserve’s</a> plans, and money leaving exchange-traded funds.<h3 id="arthur-hayes-speculates-on-market-crash">Arthur Hayes Speculates on Market Crash</h3>Arthur Hayes, the former CEO and co-founder of BitMEX, is speculating about a potential <a href="https://cryptosheadlines.com/top-4-reasons-behind-the-current-crypto-plunge/" rel="noopener noreferrer nofollow">reason behind</a> the recent market crash. Hayes hinted that a major player in the crypto space might be dumping a large amount of cryptocurrency, which could be contributing to the market turmoil.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/88710641836e40dfb822f129d7abb76d.png" />Source: <a href="https://x.com/CryptoHayes/status/1820288304384004542" rel="noopener noreferrer nofollow">X</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/6608a89f84df443dbba9e426637415c1.png" />He mentioned that sources from <a href="https://cryptosheadlines.com/dlt-potential-100b-annual-savings-for-traditional-finance-says-lobby-group/" rel="noopener noreferrer nofollow">traditional finance</a> (TradFi) suggest someone significant might be responsible for the sell-off, although he didn’t name specific individuals or entities. During the weekend, <a href="https://cryptosheadlines.com/crypto-trading-firms-9-8m-polygon-token-transfer-to-coinbase-and-binance-causes-matic-price-plunge/" rel="noopener noreferrer nofollow">trading firm Jump Crypto</a>, associated with Jump Trading, transferred hundreds of millions of dollars in various cryptocurrencies, including a notable $46 million in Ethereum. This large movement has led many to believe that Jump Crypto might be liquidating its assets, possibly impacting the market.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6302f5cbe6c74cb495ec7a61a12b0449.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Arthur Hayes Explains Why Bitcoin’s Price Dropped

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