BOME Blast off – Decrypt

BOME Blast off

BTC experiences a 9% drop, resulting in $700 million liquidations, with funding and open interest hitting their lowest levels in weeks. The sell-off appears more sustained compared to previous brief dips, with most BTC downside liquidations concentrated around $66,000. ETFs witness $132 million inflows, sparking predictions of a potential liquidity crisis within six months. VanEck suggests that an ETH ETF could surpass BTC in size. Grayscale’s ETH discount doubles within a week. Meanwhile, SOL’s market cap reaches an all-time high amid a frenzy surrounding memecoins. Additionally, rumors circulate about a fund losing $1 billion on the BTC-MicroStrategy basis.