The Daily: Crypto selloff deepens, JPMorgan blames retail BTC and ETH ETF outflows, 24-hour liquidations top $2 billion, and more
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Friday! The ongoing crypto sell-off may be relentless, but we’ll try to keep things upbeat as we dive into the latest news.
In today’s market crash special, bitcoin plunges further as U.S. jobs data dampens rate cut hopes, JPMorgan says the correction appears to be driven by retail selling of BTC and ETH ETFs, crypto liquidations top $2 billion in 24 hours, and more.
Meanwhile, U.S. officials probe Chinese bitcoin-mining machine giant Bitmain over national security concerns.
P.S. Don’t forget to check out The Funding, a biweekly rundown of crypto VC trends. It’s a great read — and just like The Daily, it’s free to…
