Crypto crash liquidates another $1bn as market bears ‘macro stress’

Crypto markets sank again on Friday morning, with $1.2 billion in leveraged positions liquidated. Bitcoin exchange-traded funds saw outflows of over $500 million the day prior, while users on Binance pulled $185 million off the exchange. “Bitcoin’s recent drop is largely driven by macro stress, ”Illia Otychenko, lead analyst at the CEX.IO exchange, told DL News. Global trade tensions, the US government shutdown in Washington, and continuous outflows from Bitcoin ETFs have all created a “risk-off” enviro ...