Crypto markets showed signs of recovery over the past 24 hours, with Bitcoin and Ethereum leading a rebound after a significant $19 billion liquidation event. Ethereum jumped 8% to $4,111, while Bitcoin surged to $114,777 (likely a reporting error, but indicating strong upward movement) as short positions were liquidated. Amidst the volatility, XRP ETF filings surged, hinting at potential SEC approval, and Grayscale boosted Ethereum ETF efforts. Binance and Tether demonstrated resilience, with Binance addressing a display glitch that showed some altcoins at $0, and Tether's CEO praising USDT's stability post-crash.
Major Themes
- Market recovery and stabilization following a flash crash
- Intensified activity around XRP and Ethereum spot ETFs
- Resilience of major platforms (Binance) and stablecoins (Tether) during market stress
- Significant protocol upgrades and ecosystem developments (Bitcoin Core, Cardano, Solana)
- Regulatory discussions and tokenization initiatives globally
Next Day Outlook
The market may see continued attempts at recovery, with attention focused on ETF developments and macroeconomic indicators, though volatility could persist.