Bitcoin Breaks Critical Support as Markets Face Over $1 Billion in Liquidations

Bitcoin plunges below the critical ninety-eight thousand dollar support level, triggering massive derivatives liquidations exceeding one point one billion dollars. We examine the cascading selloff that's testing the ninety-five thousand dollar HODL wall, analyze Canary Capital's record-breaking XRP ETF debut with fifty-eight million dollars in first-day volume, and explore what JPMorgan's updated production cost analysis reveals about Bitcoin's potential downside floor. Plus, institutional flows turn sharply negative with over eight hundred sixty million dollars fleeing Bitcoin ETFs in the second-largest outflow on record, while privacy coins Zcash and Monero buck the trend with strong gains.