GM. Welcome back to BitPinas Key Points: easily digestible news in concise formats for easy reading. In today’s daily recap: Bitcoin liquidations continue still!

Plus the latest crypto news stories in the last 24 hours.

Market Analysis and Updates 📈

Here are the crypto highlights of the day:

Crypto Price Update

Bitcoin (BTC): $87,740, down 1.0% over the last 24 hours.
Ethereum (ETH): $3,230, down 3.5% over the last 24 hours.
Solana (SOL): $205.47, down 7.0% vs the previous day.

Trending Coins Update

BONGO CAT: $0.0682, up 114% vs the previous day.
Peanut the Squirrel: $0.873, up 79.8% over the last 24 hours.
Notcoin: $0.0072, down 8.1% vs the previous day.

For the daily price update, check out our post on Facebook.

Bitcoin Retreats to $87,000, Driving $866 Million in Liquidations

After a meteoric rise to near $90,000, Bitcoin has pulled back to $87,000, setting off a new wave of liquidations.

Over $865 million was liquidated in the past 24 hours, affecting over 259,000 traders, with long positions bearing the brunt of the impact.

The numbers:

Total liquidations: $865.96 million
Traders impacted: 259,386 liquidations in the last 24 hours
Largest single liquidation: A $11.87 million order on Binance’s ETHUSDT pair

Longs vs. Shorts:

Long positions took the lion’s share, accounting for $586.48 million of the 24-hour liquidation total.
Shorts saw $279.48 million in liquidations as the market adjusted.

The volatility from Bitcoin’s rapid price fluctuations has intensified pressure on leveraged traders.

What’s next: Closely monitor Bitcoin’s price, as further retreats could ignite additional liquidations.

Philippine Crypto News 🇵🇭

Coins.ph listed the token $PEIPEI.
CryptoArt PH hosts an exhibition for a cause “Shared Humanity II” at the Coins.ph HQ in BGC.
BitPinas article: The Philippine National Police (PNP) calls for stronger cryptocurrency regulations.

Noteworthy 🌟

Key updates and announcements from around the crypto and blockchain world:

Lens Version 3 introduces customizable feeds and content groups, empowering users with more control over their social data.
Delta Prime, a blockchain lending platform, suffered a second exploit in two months, losing nearly $5 million due to a code bug.
Sam Trabucco, former co-CEO of Alameda Research, will forfeit $70 million in claims, two San Francisco apartments worth $8.7 million, and a 53-foot yacht in a proposed settlement with the FTX bankruptcy estate.

Educational Corner 🎓

Time for the monthly update! Check out the November update of the list of Crypto Airdrops to Watch Out For in 2024.

Regulation Watch 📜

Stay informed about the latest regulatory updates and what they mean for you:

FTX’s estate sued Humpy the Whale, alleging $1 billion in losses from token manipulation and margin trading exploits, with ties to organized crime.
A judge rejected former Celsius CEO Alex Mashinsky’s bid to dismiss two fraud charges, allowing all seven charges to proceed in his January 2025 trial.
Alameda Research sues Waves founder Aleksandr Ivanov for $90 million, claiming he inflated WAVES token value and misused funds, causing major losses.

Community Spotlight 🔦

Meet Harvey Javier (LinkedIn): He is one of the pioneers in pushing web3 adoption in the Bicol region.

He is the CEO of Philippine blockchain firm SparkPoint Technologies.
Recently, he talked during the first-ever Bicol Traders Meet.
Along with fellow crypto communities and entities, they conducted relief operations in the Bicol region for the victims of Super Tropical Storm “Kristine.”

More Web3 and AI News 💡

Discover the latest in web3 and AI innovation.

Split Capital proposed that Blur introduce a 0.5% trading fee, eliminate creator royalties, and revise its tokenomics to include two tokens for utility and governance.
Brevis Network, a startup using zero-knowledge technology for off-chain blockchain computations, raised $7.5 million in seed funding.
Deutsche Telekom partners with Meta Pool to run a validator node on NEAR, advancing decentralized blockchain and AI technology.

Web3 Gaming Section 🎮

The future of web3 is gaming, and here are the latest news.

Bitget and Foresight Ventures invested $20 million in Telegram’s Mini Apps to expand web3 games and apps on the TON blockchain.
Revolving Games partners with Seedify for an exclusive Open Node Sale offering discounted Scout Nodes with a 180k $RCADE airdrop.
DOGAMÍ Academy adds a Battle Pass with rewards and cosmetics like collars and skins for players to unlock each month.