Crypto Drop Wipes Out $370M in Bullish Bets as BTC, ETH Give Back Gains

Bitcoin's price has shown signs of recovery, reaching approximately $92,000, but significant investors, known as whales, are closing long positions, indicating a potential bearish sentiment despite the recent uptick. This trend raises concerns about the sustainability of the price increase and the overall market stability.

Cathie Wood, CEO of Ark Invest, has been recognized as one of the most influential figures in the cryptocurrency sector according to CoinDesk's annual list for 2025, which highlights key individuals shaping the industry. Wood's insights and strategies have garnered attention as the market evolves amidst increasing institutional interest.

Arthur Hayes has been recognized as one of the most influential figures in the cryptocurrency sector, as highlighted in CoinDesk's annual list for 2025. His insights and predictions, particularly regarding market trends and specific cryptocurrencies, have garnered significant attention within the industry.

Sirgoo Lee has been recognized as one of the most influential figures in the cryptocurrency sector, as highlighted in CoinDesk's annual list. This recognition underscores his significant contributions to the industry, particularly in shaping the evolving landscape of digital currencies.

Crypto trading volumes have significantly declined across the board last month, as reported by JPMorgan, reflecting a broader slump in the cryptocurrency market. This downturn is indicative of ongoing volatility and investor uncertainty, which has led to decreased trading activity.

Bitcoin (BTC) has dropped 3.6% as part of the CoinDesk 20 index, which is currently trading lower overall. This decline reflects a broader downturn in the cryptocurrency market, where many assets are underperforming amid increased sell pressure and reduced trading volumes.

Revolut has integrated with Trust Wallet to enable users in the European Economic Area (EEA) to purchase cryptocurrencies such as BTC, ETH, SOL, USDC, and USDT directly into self-custody wallets, with options for zero fees under the Markets in Crypto-Assets (MiCA) regulation. This integration aims to simplify the buying process for users seeking to manage their digital assets independently.

Bitcoin's price has experienced a pullback following the Federal Reserve's recent decisions, with traders now seeking new catalysts to drive market momentum. The cryptocurrency is currently hovering around critical support levels, reflecting a cautious sentiment among investors.