Binance
Bitcoin Open Interest Crashes By $4.5 Billion In One Weekend, Spells Doom For Bulls
Published
1 month agoon
By
admin
Bitcoin open interest crashed by billions in one weekend, painting a bearish outlook for the flagship crypto and spells doom for BTC bulls. Despite this setback, crypto analysts have provided some optimism with their analysis, which hints at a bullish reversal soon enough.
Bitcoin’s Open Interest Crashes By $4.5 Billion Over The Weekend
Coinglass data shows that Bitcoin’s open interest crashed by $4.5 billion over the weekend, dropping from $65 billion to $61.5 billion. This came following the liquidations that occurred due to the BTC price crash. Further data from Coinglass shows that over $2 billion has been wiped out from the Bitcoin market in the last 24 hours.
Related Reading
Bitcoin bulls took the most hit, as $1.88 billion in long positions was liquidated during this period, leading to a crash in BTC’s open interest. This paints a bearish outlook for the flagship crypto and puts the bulls in danger as the bears look to be firmly in control. For context, Bitcoin dropped from above $100,000 to as low as $92,000 over the weekend.
This Bitcoin price crash occurred after US President Donald Trump announced a 25% tariff on imports from Mexico and Canada and a 10% tariff on goods from China. Mexico and Canada have retaliated by imposing tariffs on goods from the US, while China has also hinted about imposing a tariff on US goods.
Bitcoin’s open interest looks unlikely to recover in the short term as market participants could choose to stay out of the market due to economic uncertainty. This occurrence spells doom for Bitcoin bulls as the flagship crypto could drop lower if there are no buyers to defend BTC at these levels.
Some Positive For Bitcoin Amid Open Interest Crash
In an X post, crypto analyst Ali Martinez revealed that 65.75% of Binance traders with open Bitcoin futures positions are betting on the upside. This is bullish for the BTC price as these traders have a track record of being right most of the time. As such, the flagship crypto could rebound from its current price level.

In an X post, crypto analyst Titan of Crypto stated that the broader trend for the Bitcoin price is still upward. This came as he revealed that BTC is establishing a new range between $104,400 and $93,600. The crypto analyst remarked that the short-term direction remains uncertain until this range breaks. However, in the long term, Titan of Crypto is confident that the broader trend is still upward.
Related Reading
Meanwhile, renowned author and finance expert Robert Kiyosaki suggested that this wasn’t a time to panic as this was an opportunity to buy Bitcoin on sale before it rallies further to the upside.
At the time of writing, the Bitcoin price is trading at around $94,000, down over 6% in the last 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
Source link
You may like
Stock Market To Witness Rallies in Next One to Two Weeks, Predicts Wall Street’s Cantor Fitzgerald – Here’s Why
Cryptocurrencies to watch this week: Binance Coin, Cronos, ZetaChain
What is Milady? The Edgy Ethereum NFT Community With Vitalik Buterin’s Support
Can Pi Network Price Triple if Binance Listing is Approved Before March 2025 Ends?
Gold ETFs Inflow Takes Over BTC ETFs Amid Historic Rally
Toncoin in ‘great entry zone’ as Pavel Durov’s France exit fuels TON price rally
24/7 Cryptocurrency News
Trump Family Eyes Stake In Binance US As CZ Seeks Pardon
Published
3 days agoon
March 13, 2025By
admin
Donald Trump’s family is reportedly eyeing acquiring a stake in the US arm of the crypto exchange Binance. This comes as the exchange’s founder is allegedly seeking a pardon for his guilty plea in 2023, which led to his imprisonment.
Trump’s Family Eyes Stake In Binance US
According to a WSJ report, US President Donald Trump’s family representatives have held talks to acquire a stake in Binance’s US arm. This comes just after the top crypto exchange announced that Abu Dhabi-based MGX had invested $2 billion in the exchange to acquire a minority stake.
Meanwhile, the WSJ report also revealed that the exchange’s founder Changpeng “CZ” Zhao is also pushing for Trump’s administration to grant him a pardon. Last year, CZ served a four-month sentence after he and Binance US pleaded guilty to anti-money laundering violations. A pardon will wipe Zhao’s criminal record away from the registry, meaning he will no longer be regarded as an ex-convict.
The Correlation Between Both Developments
Both the Trump family’s move to acquire a stake in Binance US and CZ’s push for a pardon could intertwine, especially considering that the exchange’s founder is allegedly still the largest shareholder. As such, he could play a major role in Trump’s move to acquire a stake in the top crypto exchange’s US arm.
WSJ also revealed that the talks to acquire a stake in the crypto exchange began after Binance reached out to Trump’s allies in 2024 offering to strike a deal with the family as part of its strategy to revive the exchange’s US arm. It is worth mentioning that the US arm resumed its USD services after Trump took office in January.
According to WSJ, it is still unclear what form the Trump family stake would look like if the deal happens or even whether it would depend on Trump granting CZ a pardon. Meanwhile, the report noted that there is also the possibility of the deal going through World Liberty Financial, which the Trump family has ties with.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source link
Binance
Binance Receives $2,000,000,000 Investment From Abu Dhabi Investment Firm MGX
Published
4 days agoon
March 12, 2025By
admin
The world’s largest crypto exchange platform by volume is receiving $2 billion worth of investments from a state-owned Emirate investment firm focused on technology and artificial intelligence (AI).
In a new thread on the social media platform X, Binance announces that it will be taking its first institutional investment on record – a staggering $2 billion worth of stablecoins from the wealth fund MGX, the single largest investment in a crypto firm ever.
“MGX, an Abu Dhabi sovereign wealth fund, invests $2 billion in Binance for a minority stake. The transaction will be 100% in crypto (stablecoins), marking it the largest investment transaction done in crypto to date. This is also the first institutional investment Binance has taken. Onwards… Build!”
In a recent press release, Binance notes that the investment was MGX’s first foray into digital assets and that the firm obtained a minority stake in the exchange “as part of a broader strategy to support blockchain’s transformative impact on society.”
The press release notes that Binance CEO Richard Teng used to be CEO of the Abu Dhabi Financial Services Authority, and “played a key role in initiating one of the world’s first crypto regulatory frameworks.”
In a post on the social media platform X, Binance co-founder Yi He said that Binance welcomes investments from sovereign wealth funds, but not financial investors.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Source link
Binance
GoPlus Security responds to GPS token’s 60% plunge as Binance points to market makers
Published
1 week agoon
March 7, 2025By
admin

Web3 security firm GoPlus Security has launched an investigation after its token dropped 60% in a single day, noting that it wasn’t informed about the the listing beforehand.
GoPlus Security (GPS), a web3 firm that says it’s working on the “first decentralized security layer,” is investigation a steep price fall of its native GPS token, which suddenly lost over 65% of its value following listing on cryptocurrency exchange Binance.
Because the GoPlus team weren’t informed in advance about the March 4th listing of $GPS. Everything happened rapidly, and our team only learned about the listing when the public announcement was made, after which we immediately worked to cooperate with Binance to facilitate any…
— GoPlus Security (@GoPlusSecurity) March 7, 2025
In an X thread on March 7, the firm denied rumors of insider dumping, adding that it wasn’t informed in advance about the listing, which took place on March 4. According to GoPlus Security, the team only learned about the listing when the public announcement was made. In response to the price drop, which saw the token’s value plunge by more than half within 24 hours, the firm has formed an investigation team to explore the cause of the fluctuations.
“Everything happened rapidly, and our team only learned about the listing when the public announcement was made, after which we immediately worked to cooperate with Binance to facilitate any additional requirements on our side.”
GoPlus Security
GoPlus Security’s native token, GPS, is designed to be a utility token, enabling users to receive incentives for safeguarding the network by staking GPS to run security nodes or provide security data, as crypto.news explained earlier.
In addition to launching its investigation, GoPlus Security also revealed that on the day of the listing, it transferred 500 million GPS tokens to Binance, 300 million of which have already been distributed as rewards for Binance’s BNB HODLer program. The remaining 200 million tokens will be used for future marketing efforts, the firm said.
Following the price drop, Binance said it would extend the monitoring tag to include GPS due to a “significant price drop immediately following the spot listing and certain market making behavior of one of GPS’ market makers.”
GoPlus Security assured the public that it’s investigating the issue with Binance and will provide further updates as more information becomes available. As of press time, GPS is trading at $0.061, per data from crypto price aggregators.
Source link

Stock Market To Witness Rallies in Next One to Two Weeks, Predicts Wall Street’s Cantor Fitzgerald – Here’s Why

Cryptocurrencies to watch this week: Binance Coin, Cronos, ZetaChain

What is Milady? The Edgy Ethereum NFT Community With Vitalik Buterin’s Support

Can Pi Network Price Triple if Binance Listing is Approved Before March 2025 Ends?

Gold ETFs Inflow Takes Over BTC ETFs Amid Historic Rally

Toncoin in ‘great entry zone’ as Pavel Durov’s France exit fuels TON price rally

XRP $15 Breakout? Not A Far-Fetched Idea—Analysis

Here’s why the Toncoin price surge may be short-lived

Wells Fargo Sues JPMorgan Chase Over Soured $481,000,000 Loan, Says US Bank Aware Seller Had Inflated Income: Report

BTC Rebounds Ahead of FOMC, Macro Heat Over?

Solana Meme Coin Sent New JellyJelly App Off to a Sweet Start, Founder Says

Toncoin open interest soars 67% after Pavel Durov departs France

Coinbase (COIN) Stock Decline Can’t Stop Highly Leveraged Long ETF Rollouts

Telegram founder Pavel Durov leaves France, Toncoin surges

Ethereum Cost Basis Data Signals Strong Support At $1,886

Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025

Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist

Aptos Leverages Chainlink To Enhance Scalability and Data Access

Bitcoin Could Rally to $80,000 on the Eve of US Elections

Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje

Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals

Crypto’s Big Trump Gamble Is Risky

Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x

Has The Bitcoin Price Already Peaked?

A16z-backed Espresso announces mainnet launch of core product

Xmas Altcoin Rally Insights by BNM Agent I

Blockchain groups challenge new broker reporting rule

Trump’s Coin Is About As Revolutionary As OneCoin

Ripple Vs. SEC, Shiba Inu, US Elections Steal Spotlight

Is $200,000 a Realistic Bitcoin Price Target for This Cycle?
Trending
- 24/7 Cryptocurrency News4 months ago
Arthur Hayes, Murad’s Prediction For Meme Coins, AI & DeFi Coins For 2025
- Bitcoin2 months ago
Expert Sees Bitcoin Dipping To $50K While Bullish Signs Persist
- 24/7 Cryptocurrency News2 months ago
Aptos Leverages Chainlink To Enhance Scalability and Data Access
- Bitcoin4 months ago
Bitcoin Could Rally to $80,000 on the Eve of US Elections
- Altcoins2 months ago
Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
- Bitcoin4 months ago
Institutional Investors Go All In on Crypto as 57% Plan to Boost Allocations as Bull Run Heats Up, Sygnum Survey Reveals
- Opinion4 months ago
Crypto’s Big Trump Gamble Is Risky
- Price analysis4 months ago
Ripple-SEC Case Ends, But These 3 Rivals Could Jump 500x
✓ Share: