Bitcoin Taps $106,000 Before Tumbling as Ethereum Dips
Bitcoin reached a peak of $106,000 before falling 3.8% to $102,450. Ethereum dropped 4.3% to $2,400, resulting in $264.4 million in liquidations. The Federal Reserve cautioned that Trump's tariffs could increase inflation, with Walmart planning price hikes due to the trade war. Over the past 24 hours, $178.46 million in Bitcoin positions were liquidated, split between long and short positions. A class action lawsuit was filed against MicroStrategy for allegedly misleading investors, shortly before the company announced a $764.9 million Bitcoin acquisition. An Australian judge ruled Bitcoin as a form of money, potentially exempting it from capital gains tax. Despite recent volatility, Bitcoin remains 5.8% below its all-time high of $108,786, while Ethereum is 50.9% below its peak of $4,878 from 2021.
