Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Bitcoin remained stable over the weekend, trading between $54,000 and $55,000, following a significant liquidation of crypto long positions after a U.S. jobs report indicated a weaker labor market.
BTC traded in a tight range between $54,000 and $55,000 over the weekend, marked by lower trading volumes on exchanges. On Friday, over $220 million in crypto longs, or bets on higher prices, were liquidated amid a sudden market drop after a jobs report - leading to less activity.rising just 0.5% in the past 24 hours. Mid-cap tokens showed some gains as memecoin neiro on ETH and the BitTorrent token jumped 25%.
“Amid macro factors dominating BTC price talk lately, the market is overlooking one of the key fundamentals underpinning Bitcoin’s value – network security,” Presto analysts Peter Chung and Min Jung said. “The hashrate, the computational power that secures the network, has hit an all-time high of 679 EH/s, making it the most secure network by far.”
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