Bitfinex, Tether Settles with NYAG

Chart of the Day

#ThrowbackBlackThursday, with a twist. Liquidations in the past two days, resulting from a 20% drop in BTC price, amount to nearly $6 billion — the highest in its history. In comparison, the liquidity crunch in March 2020, often referred to as Black Thursday, saw a dramatic 50% drop in price and $4.1 billion worth of liquidations. Don’t worry, though, it’s not all doom and gloom. As of the time of writing, the funding rate across major exchanges has calmed, with many traders remaining bullish on Bitcoin in the long term.