Bitcoin Tumbles 3.5%, $180M in Liquidations in 4 Hours

• Global shift away from the US dollar prompts offloading of US treasuries
• Bitcoin down 3.5% as perpetual funding rate turns negative; $180M in liquidations in 4 hours
• Inflation woes continue for UK; BOE faces tough decisions

Global Shift Away from US Dollar

The global economy is experiencing a major shift away from the traditionally dominant US dollar, prompting investors to offload their US treasury holdings. This has been further exacerbated by the low interest rates and resulting deflationary pressures that have led to an influx of capital into other markets. The result has been a weakening of the greenback and subsequently, a decline in the value of US treasuries.

Bitcoin Price Decline

As investors search for higher yield, Bitcoin (BTC) has come under pressure due to its relatively high volatility compared to other assets, such as gold and stocks. Recently, BTC dropped by 3.5%, resulting in over $180 million worth of liquidations in just four hours on crypto exchanges like Binance. This was caused by a combination of a negative perpetual funding rate on Binance along with a decrease in the perpetual open interest for BTC/USDT pairs on Binance – dropping more than 5%.

Inflation Woes Continue for UK

The British Pound (GBP) continues to face inflationary pressures due to rising prices coupled with low wages and weak economic growth. In response, the Bank of England (BOE) is struggling to make tough decisions regarding monetary policy that will have far-reaching implications not only for GBP but also for other global currencies as well. As such, it remains unclear how this situation will eventually play out.

Staked Ethereum Deposits Exceed Withdrawals

In recent news related to Ethereum (ETH), staked deposits have exceeded withdrawals in the latest 24-hour period – signifying an increase in investor confidence within this asset class. Despite this positive development, ETH’s price still remains volatile – largely dependent on spot trading activity rather than large-scale liquidations taking place during periods of extreme volatility like what happened during March 2021 when ETH saw huge losses overnight after reaching all-time highs days prior.

Bitcoin Back Over $30K

Finally, Bitcoin has surged back over $30k after bottoming at around $27k earlier this month – driven primarily by spot buying activity rather than large scale liquidations which have been minimal throughout these past few weeks despite some periods of high volatility. This renewed bullish sentiment towards BTC could be seen as a sign that investors are once again regaining confidence in the cryptocurrency market and remain optimistic about its future prospects despite some short term bumps along the way

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