3 Reasons Bitcoin Crashed by $3,000 – And Why It’s Still Bullish
Bitcoin fell from over $19,300 to $16,327 during the early European trading hours of November 26. It later recovered to $17,200, before drifting lower to trade around $16,500 for the rest of the day. Nearly $2 billion-worth of derivative positions have been liquidated in the 24 hours prior to the plummet, according to Bybit, although this had been expected as the cost of holding long positions in the perpetual futures market had risen sharply to a multi-month high. Also, Coinbase CEO Brian Armstrong’s tweets about the U.S. Treasury Department’s rumored plans to track owners of self-hosted crypto wallets may have been another trigger, as was OKEX’s announcement that it would resume withdrawals.
Swiss Digital Asset Bank Sygnum Launches Blockchain Alternative to Stock Exchanges
Sygnum, a digital asset finance firm with a Swiss banking license, has launched what it says is a blockchain-based alternative to listing shares on a stock exchange. The end-to-end tokenization solution is comprised of Desygnate, a primary market issuance platform, and SygnEx, a secondary market trading venue. Sygnum claims 24/7 instant settlement, as well as reduced counterparty risks with the platform powered by its own Swiss franc-linked stablecoin, Digital CHF (DCHF).
Prolonged AWS outage takes down a big chunk of the internet
Amazon Web Services (AWS), Amazon’s internet infrastructure service that is the backbone of many websites and apps, experienced a multi-hour outage on November 25 (2020) that affected a large portion of the internet. Many apps, services, and websites were affected, including 1Password, Coinbase, Glassdoor, Flickr, Pocket, RadioLab, Roku, and The Washington Post. Downdetector.com also showed spikes in user reports of problems with many Amazon services throughout the day.