Bitcoin liquidations, ETF outflows follow market selloff; analyst examines crypto performance against equities
The Nasdaq fell 5.5% on Thursday, its worst day in approximately 19 months, triggering Bitcoin liquidations and ETF outflows after gains following the midterm elections. According to analyst Scott Melker, Bitcoin gave back post-election gains during the broader market decline. Melker argues Bitcoin is still outperforming equities despite the pullback. Separately, Samsung Wallet enabled USDC account support on Solana across approximately 82 million Galaxy devices, and Trump Media transferred 4,259 Bitcoin to Crypto.com—a transfer distinct from a sale. The White House began reviewing an SEC draft on crypto broker-dealer regulations.
Editorial note
This item is classified as Analysis. Claims reflect the source analyst's arguments and characterizations of market movements, not independently verified findings. Market data (Nasdaq decline, liquidations, ETF outflows) are verifiable; the analyst's comparative performance assessment and significance framing are interpretive.
✓ Verified
- ✓Nasdaq fell 5.5% on Thursday, its worst day in approximately 19 months. (Yahoo Finance/source)
- ✓Samsung Wallet enabled USDC account support on Solana for approximately 82 million Galaxy devices. (Source report)
- ✓Trump Media transferred 4,259 Bitcoin to Crypto.com. (Source report)
- ✓White House began reviewing an SEC draft on crypto broker-dealer regulations. (Source report)
~ Interpretation
- ~Bitcoin gave back all post-midterm election gains during the market selloff. (Analyst characterization, not independently confirmed)
- ~Bitcoin is still outperforming equities. (Scott Melker's analysis, not independently verified finding)
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