Update
Leverage Bill Came Due: Crypto Markets Liquidated
Bitcoin is at $74,660 (-1.61% in 24h) and Ethereum at $2,134 (-4.56%). About $1 billion in crypto positions got liquidated due to high leverage. The official line blames high leverage and its cascade. ETH took the heaviest flow of the majors with a -4.6% on $537M volume. USDC and USD1 volumes increased to hide smart money in stables. Bitquery traced $6.01M in stolen funds to Keplr wallets. Three men were charged in an AI voice-cloning fraud, and Evan Luthra described being kidnapped and losing $2M in crypto. Fear & Greed index is at 29 (Fear), indicating a scared crowd with no hands to fish in for a bounce.