Large Bitcoin liquidations mean one man’s pain is another man’s pleasure — Time to buy the dip? By Cointelegraph
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Large Bitcoin liquidations mean one man’s pain is another man’s pleasure — Time to buy the dip?(BTC) has been unable to restore the $24,000 support since Celsius, a popular staking and lending platform, paused withdrawals from its platform on June 13. A growing number of users believe Celsius mismanaged its funds following the collapse of the Anchor Protocol on the (LUNA; now LUNC) ecosystem and rumors of its insolvency continue to circulate.
An even larger issue emerged on June 14 after crypto venture capital firm Three Arrows Capital (3AC) reportedly lost $31.4 million through trading on Bitfinex. Furthermore, 3AC was a known investor in Terra, which experienced a 100% crash in late May.
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Large Bitcoin liquidations mean one man’s pain is another man’s pleasure — Time to buy the dip?(BTC) has been unable to restore the $24,000 support since Celsius, a popular staking and lending platform, paused withdrawals from its platform on June 13. A growing number of users believe Celsius mismanaged its funds following the collapse of the Anchor Protocol on the (LUNA; now LUNC) ecosystem and rumors of its insolvency continue to circulate.
An even larger issue emerged on June 14 after crypto venture capital firm Three Arrows Capital (3AC) reportedly lost $31.4 million through trading on Bitfinex. Furthermore, 3AC was a known investor in Terra, which experienced a 100% crash in late May.
Continue Reading on Coin Telegraph
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