New SpaceX financial documents published by The Wall Street Journal provide a rare look at Elon Musk’s private rocket company. Cryptocurrency prices have swung wildly after a report late Thursday revealed that SpaceX had sold off its
Cryptocurrency liquidations reached more than $1 billion in the past 24 hours as of Friday morning, Coinglass data appears. Bitcoin’s drop below $28,500 resulted in a liquidation of “physical volumes” of long bitcoin orders, along with spot selling ahead of order dates. That sparked a major sell-off, Decentral Park Capital trader Louis Harland told CoinDesk.
Bitcoin price fell to a low of $25,392.05 Thursday night, marking a two-month low. It is trading near $26,000 late Friday, down 6.6% over the past 24 hours. Bitcoin had already fallen from around $28,600 to $27,600 on Thursday before the SpaceX news, as a strong dollar and risk-free trading weighed on the cryptocurrency.
Ethereum slid to $1,656 late Friday from Thursday’s high of $1,790. Dogecoin fell 3.4% to 6.4 cents.
COIN stock pared losses to 3.1% on Friday after falling 4.8% in pre-market trading. Crypto miners Digital Marathon (Mara) MARA stock witnessed a decline of 7.9%, while Riot pads (riot) fell 5.5%. in the Thursday session, Coinbase (currency) fell by 4.35%, while Marathon Digital dropped 9.3% and RIOT dropped 10.6%.
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