The US's first Federal National Mortgage Association-backed Bitcoin mortgage just completed
Coinbase was used as the intermediary between the buyer and seller
The buyer said, “We closed on our home, and my Bitcoin stayed intact. We didn’t have to liquidate, didn’t have to time
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bitcoin:native Slides as Market Faces Wave of Selling Pressure
Bitcoin experienced a sharp decline over the past two days, falling below key support levels and triggering widespread liquidations across the crypto market.
The selloff appears to be driven by a combination of factors. Spot Bitcoin ETFs have seen significant investor outflows, reducing one of the market's strongest sources of demand. At the same time, large holders have been taking profits, while concerns over potential Bitcoin sales linked to the Mt. Gox repayment process have added uncertainty.
As prices fell, leveraged traders were caught offside. More than $800 million worth of crypto positions were liquidated, accelerating the decline as forced selling pushed prices even lower.
Despite the drop, analysts note that the current correction resembles a market deleveraging event rather than a fundamental crisis. Bitcoin remains well above levels seen earlier in the year, and traders are closely watching whether buyers return around the $68,000–$70,000 range.
The coming days will be crucial. If ETF flows stabilize and market sentiment improves, Bitcoin could recover quickly. However, continued selling pressure may lead to further volatility across the broader cryptocurrency market.
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