**Market Volatility Takes Center Stage**
Today’s market experienced significant volatility, leading to a Bitcoin flash crash that saw prices plummet to around $80,000. This drop comes amidst a broader wave of liquidations across the cryptocurrency ecosystem.
**Crypto Stock Performance – A Year in Review** MicroStrategy, facing losses after its record-breaking high one year ago, has seen its stock price decrease by 68% as Bitcoin’s value plummeted from $126,000 to as low as $81,385.
**Tether Takes Center Stage** Tether is making a mark in the gold market with its reserves exceeding 116 tons, rivaling even small central banks. This surge coincides with increased buying from Tether (USDT) as it seeks to capitalize on profits.
**Market Competition & Prediction Markets** Kalshi has secured a $1 billion funding round at an $11 billion valuation, closing in on Polymarket’s ambitious prediction market funding target of $12-15 billion. Meanwhile, JPMorgan sheds light on the ongoing cryptocurrency correction, attributing it to the selling of spot BTC/ETH ETFs by retail investors amounting to $4 billion. This contrasts with continued equity buying.
**The Current Crypto Landscape** The market dynamics continue to unfold as we head into a new week in crypto.