Global energy markets experienced a dramatic shift as crude oil prices dropped by 9% in overnight trading. This sudden downturn had ripple effects on the cryptocurrency market, resulting in significant losses for many traders.
According to data from various sources, over 120,000 traders were liquidated across the entire market within a 24-hour period. Despite this, major cryptocurrencies demonstrated some resilience, with Bitcoin experiencing a modest gain of over 1% on the day, reaching a price of $76,655.1 per coin.
The Verus bridge attacker returned 75% of stolen funds and retained a portion as bounty, signaling a positive development in the market's recovery efforts. Analysts continue to monitor the growth potential of Bitcoin-collateralized lending, which could reach a trillion-dollar market but faces a significant gap between demand and actual usage.