BTCUSDT Tumbles Amid Coinbase-US IRS Debacle, Bitcoin Price To Crash?
Several factors including macro, technical, and regulatory challenges are heavily impacting the crypto market, causing a market-wide selloff. advertisement Bitcoin Price Falls As US IRS Can Access Coinbase’s User Trading Data Whales and investors dumping and moving their Bitcoin and crypto holdings off Coinbase as a court ruling revealed that the US Internal Revenue Service ( IRS ) can access user trading data on Coinbase. Whales dumped and moved over $1 billion in Bitcoin off Coinbase in the last few days. Moreover, the worsening crypto landscape and regulatory challenges caused BTCUSDT open interest to fall massively as traders got liquidated or closed their positions. BTC longs liquidation continues to rise causing prices to tumble significantly. The negative funding rates will potentially cause Bitcoin price to fall below $25k. Bitcoin Open Interest. Source: DecenTrader Also Read: Crypto Market Selloff: Here’s Why Bitcoin , Ethereum Price Fal...