WS #14728
Bitcoin has dipped below $84,000, triggering $280 million in long liquidations. The broader crypto treasury model is under pressure, with most Digital Asset Treasuries (DATs) trading below the value of their crypto holdings, as evidenced by Sequans exiting its Bitcoin strategy. This correction highlights the fragility of crypto-backed balance sheets in a high-rate environment and reduces the bullish impact of corporate adoption narratives.
Crypto Market Correction
Bitcoin has dipped below $84,000, triggering $280 million in long liquidations. The broader crypto treasury model is under pressure, with most Digital Asset Treasuries (DATs) trading below the value of their crypto holdings, as evidenced by Sequans exiting its Bitcoin strategy. This correction highlights the fragility of crypto-backed balance sheets in a high-rate environment and reduces the bullish impact of corporate adoption narratives.