Market Rebound

Bitcoin’s slide below $60,000 helped trigger nearly $1 billion in crypto futures liquidations over 24 hours, sparking a violent two-way move. Solana also remained under pressure after a steep selloff, even as volatility eased and prices attempted a modest rebound.

Strive CEO Matt Cole said the sharp drop in STRC and SATA was a leverage liquidation event driven by margin calls and forced selling. He argued the move reflected market structure stress, not a deterioration in issuer credit quality.