Why Did Bitcoin Drop? Last 24h Crypto Recap:

- $370 Million Liquidated: In the past hour alone, $370 million has been liquidated from the crypto market.

- Nikkei’s Historic Drop: The Nikkei has experienced its largest two-day decline ever, surpassing even Black Monday.

- Jump Trading Moves: Jump Trading is reportedly offloading Ethereum (ETH), having unstaked $500 million worth over the last two weeks. There are rumors they might be exiting the crypto market-making sector.

- US Alert to G-7: The US has warned the G-7 that Iran could potentially strike Israel within the next 24 hours, as reported by Axios.

- Berkshire Hathaway’s Sell-Off: Berkshire Hathaway has sold more shares this quarter than ever before, sparking concerns of an impending recession.

- Political Momentum Shift: Trump’s lead is shrinking as Kamala Harris gains ground. Polymarket now shows Trump at 52% and Kamala at 45%, with the gap closing.

- Impact of Yen Carry Trade Unwinding: The unwinding of yen carry trades is reducing global liquidity, affecting asset prices across various markets, including US Treasuries and cryptocurrencies.

- Possible Price Manipulation in Korea: South Korean financial authorities are investigating potential price manipulation of AVAIL during its Bithumb listing, which could lead to fewer listings on Korean exchanges in the near future.