Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Bitcoin fell to $112,174, with some commentators linking it to a $2 billion Bitcoin whale sell-off. Telegram founder Pavel Durov provides an update on the court case and criticizes the French government and Ethereum gaming network Xai claims Elon Musk’s AI firm xAI has caused market confusion and reputational harm.
Bitcoin saw a sharp fall to $112,174 on Sunday, and Bitcoiners like Willy Woo are blaming the drop and slower price action on Bitcoin’s oldest whales cashing out after holding the asset for years.
“This differential in cost basis, the supply they hold and their rate of selling has profound impacts on how much new capital that needs to come in to lift price,” the Bitcoiner said, noting it now takes over $110,000 of new capital to absorb every Bitcoin.
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