A smart money address that earned $5.16 million from shorting BTC when LUNA/UST crashed sold 45 WBTC, which is approximately $2.92 million

The cryptocurrency market is crowded with investors who have suffered such deep losses that they cannot continue buying in, yet are unwilling to cut their losses.

The bulls are right; over time, the money printer will inevitably go “brrrr.”

Bitcoin and Ethereum prices have experienced significant declines, with disagreements over Federal Reserve interest rate policies increasing market uncertainty. The mainstream crypto treasury company mNAV fell below 1, and traders are showing strong bearish sentiment. Vitalik criticized FTX for violating Ethereum’s decentralization principles. The supply of PYUSD has surged, with PayPal continuing to strengthen its presence in the stablecoin market. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

The UK government plans to sell 61,000 seized bitcoins to fill its fiscal gap, which will result in long-term selling pressure on the market.