Today issue
1. Derivatives Liquidation of $1.7 Billion
A massive liquidation of derivatives is currently taking place. According to data from Coinglass, derivatives worth $1.7 billion (approximately KRW 2.52 trillion) were liquidated in the past 24 hours.This includes approximately $200 million in short (sell) positions and $1.5 billion in long (buy) positions. Notably, the liquidation of long positions far outweighs that of short positions.
2. Bhutan's Large Bitcoin Sell-Off
Bhutan, which holds more Bitcoin than El Salvador, contributed to the price drop with a significant sell-off.
According to data from Arkham Intelligence, the Bhutanese government transferred 406 BTC to QCP Capital, a digital asset trading firm headquartered in Singapore, presumably to liquidate the assets.
3. Google’s Quantum Computer “Willow” Announcement
Google announced the development of a quantum computer capable of solving problems in minutes that would take a supercomputer 10 septillion years to complete.
For context, a septillion is a number far greater than the age of the universe, and this performance is significantly faster than the 10,000-year problem-solving claim Google made five years ago.
This tremendous leap in computing power has raised concerns that hackers could potentially crack the cryptographic protections of cryptocurrency wallets and exchanges.
