Bitcoin Could Have 'Panic Day' Today, Ben Armstrong Says, Here's Why

wrote that there has been so much negative crypto news over the past 12 hours that it is hard to keep up with all of it. In particular, he mentioned three major pieces of news that, he believes, might force Bitcoin to drop below the $15,000 level.The first is DCG's trouble and that of its lending arm Genesis, the fall of deposits at crypto-oriented Silvergate bank and the U.S. unemployment rate, which is predicted to hit 4.6%.

In the meantime, head of Gemini exchange Cameron Winklevoss is striving to reclaim $900 million in customers' funds that were lent to DCG's Genesis. Initially, this sum close to $1 billion was lent to Barry Silbert's company in order to make high profits for lenders on Gemini. But now Winklevoss cannot seem to get this money back as Genesis is having bad liquidity issues and is close to going bankrupt.

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