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$BTC almost touched the sky today, briefly passing the $71,000 mark! But don't worry, it didn't disappear into a black hole (sadly for some). It's still hanging out around. ๐Ÿ’ช๐ŸŒž The real story here is the inflow of cash into Bitcoin ETFs (fancy investment vehicles that track Bitcoin's price). According to SoSoValue, these ETFs saw a whopping $880 million flood in โ€“ the biggest single day since March! ๐Ÿ‘€๐Ÿคฏ This is a big deal because it shows that investors are still super bullish on Bitcoin, even with the recent cool down. It's the second-highest inflow EVER since a bunch of these Bitcoin ETFs launched in January. Crazy! ๐Ÿ”ฅ๐Ÿš€ What do you think, crypto fam? Is Bitcoin on its way to another all-time high? Let us know in the comments! #btc70k #BTC

$BTC almost touched the sky today, briefly passing the $71,000 mark! But don't worry, it didn't disappear into a black hole (sadly for some). It's still hanging out around. ๐Ÿ’ช๐ŸŒž

The real story here is the inflow of cash into Bitcoin ETFs (fancy investment vehicles that track Bitcoin's price). According to SoSoValue, these ETFs saw a whopping $880 million flood in โ€“ the biggest single day since March! ๐Ÿ‘€๐Ÿคฏ

This is a big deal because it shows that investors are still super bullish on Bitcoin, even with the recent cool down. It's the second-highest inflow EVER since a bunch of these Bitcoin ETFs launched in January. Crazy! ๐Ÿ”ฅ๐Ÿš€

What do you think, crypto fam? Is Bitcoin on its way to another all-time high? Let us know in the comments! #btc70k #BTC

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Uh oh, $CRV taking a tumble! ๐ŸคฎLooks like CRV prices are in a nosedive today! On top of that, some crypto news outlets are buzzing about a big wig (supposedly the founder himself, Egorov) who almost got liquidated on all his CRV position. Here's the tea: ๐Ÿ˜ค๐Ÿ‘‡ โ›”๏ธ CRV price is way down - not a good look for hodlers. โ›”๏ธ Egorov, the guy behind Curve Finance, apparently borrowed a bunch of stablecoins. โ›”๏ธ This risky move with borrowed funds almost got his whole #CRV position liquidated (close call!)๐Ÿ”ช So, why would Egorov borrow stablecoins in the first place? ๐Ÿค” There are a few possibilities: ๐Ÿ”ฅ Playing with fire - leverage trading: Maybe Egorov was trying to juice his returns by leveraging his CRV holdings. This can be a gamble, with big potential gains but also huge potential losses (like we're seeing now). ๐Ÿ’ต Yield farming with a twist: Perhaps he borrowed to deposit the stablecoins and chase some sweet DeFi yields. But again, this strategy can backfire if the market tanks. ๐Ÿ”’ Locked CRV, unlocked needs: It's also possible that a significant portion of Egorov's CRV holdings are locked due to token vesting. In this scenario, he might not have been able to directly sell CRV to raise cash, so borrowing stablecoins using his CRV as collateral became the alternative. Whatever the reason, ๐Ÿคท this whole situation is a reminder that crypto can be a wild ride! Be careful out there, folks, and always DYOR before making any risky moves. ๐Ÿ’ป๐Ÿ‘€#BTCFOMCWatch #altcoins #TopCoinsJune2024
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