The cryptocurrency market and stock market both experienced a decline, with nearly $1 billion in liquidations in the crypto market within the past 24 hours. Bitcoin filled in a CME gap and traded at $83,540, down nearly 10%. Trader Peter Brandt commented on the volatility, stating that it presented opportunities to make or lose money and emphasized the importance of risk management. The market faced a sell-off, with most cryptocurrencies in the top 100 experiencing losses. Over $978 billion worth of crypto derivatives were liquidated, with bullish bets accounting for the majority. The announcement of a crypto strategic reserve initially sparked excitement and gains but was short-lived due to profit-taking and a risk-off mood. Tom Lee believes the broader market may be approaching a bottom.



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