The Daily: Analysts say full-blown bitcoin capitulation yet to come, Terraform Labs sues Jane Street over alleged insider trading, and more
Analysts warn Bitcoin faces a potential drop to $55,000, while Terraform Labs sues Jane Street for alleged insider trading.Summary
Bitcoin briefly dipped below $63,000 amid 'extreme fear,' with analysts suggesting a full capitulation is not yet complete, as accelerating capital outflows and weak ETF demand pressure support levels around $60,000-$65,000. A break below this zone could send BTC toward the mid-$50,000s or even $47,000.
In legal news, Terraform Labs' liquidation administrator sued Jane Street, alleging the firm used non-public information from insiders to front-run trades before the Terra-Luna collapse in May 2022.
Other key updates include Binance denying reports that it fired investigators who uncovered significant crypto flows to Iran-linked entities, Step Finance shutting down after a $40 million exploit, and Vitalik Buterin selling over 10,700 ETH to fund open-source projects.
(Source：The Block)