The cryptocurrency market has experienced significant turbulence as the Depository Trust & Clearing Corporation (DTCC) announced a major policy change, stating that starting next Tuesday, all cryptocurrency investments, including Bitcoin ETFs and other spot products, will receive a 100% haircut, effectively removing their ability to be used as collateral. This decision could potentially reduce liquidity and increase risk for investors. Concurrently, the crypto market saw substantial liquidations, totaling $211.15 million in 24 hours, involving 92,306 traders. The majority of these were long positions worth $178 million, compared to $31 million in short positions. Bitcoin's price notably fell below $64,000, contributing to $44 million in Bitcoin liquidations and $42 million in Ethereum liquidations.
#Bitcoin has nearly $11b of shorts to $73200 and about $1.45b to flush all longs to $60k https://t.co/NhAkMy17xv
BITCOIN COLLAPSES UNDER $63,000 $BTC
Not a big deal https://t.co/dsFDP7xLWn
people are missing the second order effect of this DTCC news a “100% haircut” means that Bitcoin is now officially bald Up Only
🚨BREAKING: The DTCC says that starting next Tuesday ETFs that have Bitcoin or any other cryptos will have ZERO collateral value for loans. This could potentially mean less liquidity + more risk for investors but it could also reduce any wall st leverage shenanigans. UH OH? https://t.co/2J7pZcthOw
a second plane has hit crypto smooth brains who don't know anything about dtcc say it all they think this means ppl can't borrow against ETFs w/ Bitcoin send this space to zero -- https://t.co/oYNg1i3snl
DTCC Bitcoin news indicates that any financial assets, such as Exchange Traded Funds (ETFs) or other types of investment vehicles, which include cryptocurrencies like Bitcoin as part of their investment holdings, will not be considered valuable for collateral purposes. The…
The big news here is not the one related to #crypto, no one is really using that as collateral among banks and brokers anyhow…. The big #DTCC news here is point (1) with the haircut on B1-B3 rated corporate bonds raised to 70% ⚠️ https://t.co/kMpE8pO8mD
Wow. DTCC bombshell. 100% collateral haircut for Bitcoin ETFs or ‘other investment vehicles’ that include Bitcoin or other cryptocurrencies. Effective this Tuesday. https://t.co/7hOCmUGGxA
Breaking: More FUD. No organization is more at risk from crypto than the @The_DTCC. In a desperate measure the @The_DTCC has posted B20002-24. 2. No collateral value will be given for any ETF or other investment vehicle that includes Bitcoin or any other cryptocurrency as an… https://t.co/rIyZiYz5Cf
JUST IN: Starting Tuesday, DTCC will apply a 100% haircut to all cryptocurrency investments. Firms will no longer be allowed to use crypto as collateral, including ETFs and other spot products 😮 H/t @741trey https://t.co/xMVpV1grjG
EFFECTIVE TUESDAY, DTC TO ASSIGN 100% HAIRCUT TO ALL CRYPTOCURRENCY INVESTMENTS⚠️ FIRMS WILL NO LONGER BE ABLE TO UTILIZE CRYPTO AS COLLATERAL, INCLUDING ETFS AND OTHER SPOT PRODUCTS. https://t.co/gRfbdG8ZYm
BITCOIN LONG LIQUIDATIONS NEAR $40M AS PRICES DROP Bitcoin experienced significant market pressure with nearly $40 million in long liquidations as its price fell below $65,000. Overall, the crypto market saw over $212M liquidated in 24 hours, with Bitcoin maintaining a… https://t.co/7UUAEPGxDf
Bitcoin Price Slips Below $64,000 as $209 Million in Crypto Longs Liquidated ► https://t.co/EDxINnm8Gx https://t.co/EDxINnm8Gx
🚨 In the last 24 hours, 92,306 traders were liquidated, with total liquidations reaching $211.15M. The majority were long positions ($178M) compared to short positions ($31M). $BTC faced $44M in liquidations, while $ETH saw $42M. https://t.co/P69P3PlxbW
The crypto market witnesses $210 million in liquidations over 24 hours, with long positions accounting for 85% https://t.co/ueNf87it4u