Crypto Market Reels from Massive Liquidation.

The crypto space recently experienced one of its most dramatic events: over US $19 billion was liquidated over a 48-hour period, with Bitcoin and Ethereum dropping 14 % and 12 %, respectively.   This event shook leveraged positions and underscored the fragility of sentiment in the space.  

Since then, partial recoveries have occurred, but volatility remains elevated. Stocks tied to crypto (e.g. Coinbase, microstrategy) also saw declines.

Outlook:
The market is in a recalibration phase. With macro uncertainty and regulatory risks on the table, further sharp swings are quite possible.