BWENEWS News, S&P DOW JONES INDICES LICENSES S&P 500® TO TRADE[XYZ] FOR PERPETUAL CONTRACTS ON HYPERLIQUID: PRN

S&P DOW JONES INDICES LICENSES S&P 500® TO TRADE[XYZ] FOR PERPETUAL CONTRACTS ON HYPERLIQUID: PRN

This article is from Vanity Fair.
Compiled by Odaily Odaily(@OdailyChina); Translated by Moni
"I really can't take it anymore."
In early February, a major crypto market maker's Signal inbox was flooded with dozens of messages like this: "The crypto market has plunged another 15%—$400 billion in market capitalization has vanished in just a few days." This followed a nearly 50% drop in the total cryptocurrency market capitalization over the previous four months, dragged down by Bitcoin, with Ethereum and Solana both experiencing declines approaching...

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If the historical script remains unchanged, we should be at the beginning of the digestion phase.
Article author: jk
Article source: Odaily Odaily
On February 28, 2026, the United States and Israel launched a joint military strike against Iran. When the news broke, all major global financial markets were closed, except for the cryptocurrency market, which bore undue pressure and experienced a divergence from safe-haven expectations. Bitcoin plunged nearly 6% in 45 minutes, plummeting from approximately $70,000 reached the previous week to a recent low of $63,038, triggering approximately $515 million in long positions...