Evergrande
Company Warned of Bitcoin Crypto Crisis Sees 87% Stock Plunge
Evergrande's financial woes have led to a significant drop in its share prices and have also caused ripples in the cryptocurrency market.
Why Bitcoin Price Dropped: SpaceX, Evergrande, and Whale Movements!
Bitcoin, the largest cryptocurrency by market value, saw a major decline on Friday. In the past 24 hours, BTC dropped from around $29,000 to $25,166. According to Coinglass data, over $1 billion worth of positions were liquidated during the sell-off. The amount of Bitcoin liquidated was the highest seen in a single day since the market turmoil in June 2022. Within the past 24 hours, $500 million worth of BTC positions were liquidated, with $375 million of that coming from Long positions.
Chinese Real Estate Giant Evergrande Goes Bankrupt: Why is it Important for the Bitcoin and Crypto Market?
The bankruptcy application of Chinese real estate giant Evergrande has shocked the crypto market and raised concerns due to its connection with Tether.