Summary Of The Contagion Event That Brought On The Bear Market
Are we in a bear market? Opinions vary, but it certainly feels like one. Markets across the board and across the world are in the red, and the bitcoin and crypto ones are no exception. If you’ve been paying attention, you know how all of this happened, but a refresher course wouldn’t hurt. Using ARK Invest’s latest Bitcoin Monthly report as a guide, let’s go through the tragic sequence of events and evaluate the bitcoin market as it stands. According to ARK, the road to the bear market went like this: “Beginning with the Terra collapse in early May, contagion spread to major crypto....
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SBF also rejected rumors that Alameda played a part in jeopardizing the stability of Celsius, noting that “this is definitely false. We want to help those we can in the ecosystem, and have no interest in hurting them.” Sam Bankman-Fried’s (SBF) Alameda Research is “stepping in” to prevent further contagion across the crypto sector during the current bear market. Numerous crypto companies are facing liquidity issues (of varying severity) as a result of the strong market downturn throughout 2022. Major firms such as Celsius and Three Arrows Capital (3AC) are both reportedly on the brink of....
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
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Voyager announced that Three Arrows Capital owes the firm 15,250 BTC and $350 million USDC. Trading platform Voyager Digital takes a loan from trading firm Alameda Research because of its exposure to crypto venture capital firm Three Arrows Capital (3AC). In a press release by Voyager Digital, the firm announced that it has borrowed 15,000 Bitcoin (BTC) from Alameda to cover the losses that came from its exposure to the 3AC contagion. Voyager also noted that the company might issue a notice of default to 3AC if they fail to pay its loans from Voyager. The firm revealed that 3AC owes the....