Here’s what happened in crypto today
In the latest news from the cryptocurrency market, a trader successfully capitalized on a decline in Ether's price, generating nearly $16 million through a leveraged short position. This position was initiated at $3,388 with a 50x leverage. Meanwhile, Bitcoin's price fell below $100,000 following an executive order by former President Donald Trump imposing new import tariffs on goods from China, Canada, and Mexico, raising concerns about inflation and its potential impact on risky assets like cryptocurrencies. Lastly, El Salvador continued to accumulate Bitcoin despite terms set forth in an IMF deal, increasing its total BTC holdings to over 6,055. The government is shifting public sector involvement in Bitcoin and privatizing the Chivo wallet while focusing on increasing its national reserves.
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