LIBRA Fallout Pressures Crypto Markets as FTX Repayments Begin
Bitcoin (BTC) is down 0.7% over the past 24 hours, currently at $95,802.76. The broader market reflects bearish sentiment following issues surrounding Argentina's President Javier Milei and the Libra token. The CoinDesk 20 Index has decreased by approximately 2.3%.
Key points:
- U.S.-Russia negotiations may impact market movements.
- FTX Digital Markets begins repaying creditors today, with a total repayment of $16 billion in stablecoins.
- Creditor claims under $50,000 will receive about 119% of claim value plus interest accrued since November 2022.
- Ether sees inflows of $393 million this month, contrasting Bitcoin's outflows of $376 million.
- Ethereum's Pectra upgrade is entering testing, expected to enhance scalability and security.
- A survey shows investor bearishness at a two-year high, potentially signaling contrarian opportunities.
Market Movements
- BTC: $95,802.76 (-0.69%)
- ETH: $2,698.31 (-2.88%)
- CoinDesk 20 Index: 3,161.95 (-2.23%)
Upcoming Events
- Feb. 18: FTX Digital Markets starts reimbursement process.
- Feb. 19: Monad’s public testnet launches.
- Feb. 21: TON becomes exclusive blockchain for Telegram’s Mini App ecosystem.
Overall, investor sentiment remains cautious amid economic uncertainties and geopolitical tensions.