đš BITCOIN PLUMMETS 8% BELOW $62K BEFORE EPIC COMEBACK! MARKET CHAOS HITTING MAJOR CRYPTOS! đ±đ
In a wild ride on Saturday, Bitcoin (BTC) and the entire crypto sphere suffered a dramatic setback, with the flagship cryptocurrency momentarily nosediving below the $62,000 mark before staging a stunning recovery to hover around $64,000 at the time of writing.
But it wasn't just Bitcoin feeling the heat! Ether (ETH) took a brutal 7% plunge, scraping beneath $3,000, while BNB (BNB) and Solana (SOL) were ruthlessly battered, tumbling 9% and a whopping 12%, respectively, according to the latest data from CoinGecko.
And the DeFi sector? It got slammed! Depressed prices triggered liquidations, sending shockwaves through key protocols like Ethena, whose controversial methods for maintaining USDe's peg faced their toughest test yet amid the turmoil.
â What sparked this mayhem? Former BitMEX bigwig Arthur Hayes warned of a liquidity crunch ahead of the looming U.S. tax deadline on April 15, predicting a downward spiral in prices as liquidity dries up.
And as if that wasn't enough, geopolitical tensions added fuel to the fire as Iran launched strikes against Israel. However, the crypto market breathed a sigh of relief as Iran signaled a potential de-escalation.
In a market gripped by uncertainty and volatility, strap in tight as the crypto rollercoaster ride continues! đąđ„
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