Bitcoin Sees 11% Drop on Regulatory News, Wiping Out Billions in Open Interest

Bitfinex announces an upcoming AMA session with Sandeep Nailwal, CEO & Founder of Polygon, scheduled for August 8 at 6PM UTC. Key Discussion Points: - The transition from MATIC to POL tokens - Insights into Polygon's Agglayer - Future developments of the Polygon ecosystem The AMA will be hosted by BitFreedomGus on [Bitfinex's Telegram channel](https://t.me/bitfinex). Community members can [submit questions](https://forms.gle/fxMo1xFGPUhw1Sq46) in advance through the provided form.

Bitfinex, one of the earliest Bitcoin exchanges founded in 2012, has unveiled its new website today at [Bitfinex.com](http://Bitfinex.com). Key highlights: - 13 years of trusted cryptocurrency trading - Focus on deep market liquidity - Advanced trading tools for professionals - Battle-tested technical infrastructure The platform maintains its position as one of the original Bitcoin exchanges, continuing to serve professional traders with the same reliability that established its reputation in the early days of cryptocurrency trading. [Learn more about Bitfinex's journey](http://bitfinex.com/aboutBitfinex)

Bitfinex has introduced a new staking service that allows long-term token holders to earn passive income without moving assets from their wallets. **Key Features**: - Seamless integration with existing wallets - No token transfer required - Passive income generation while holding The platform aims to maximize utility for investors who maintain long-term positions in digital assets. [Learn more about Bitfinex Staking](https://staking.bitfinex.com/)

Bitcoin has broken key support levels as altcoins face significant selling pressure. Over $1B in leveraged positions were liquidated on Saturday alone, highlighting diminishing risk appetite across crypto markets. The market appears to be entering a consolidation phase, with analysts watching for either renewed ETF flows or macro catalysts to spark the next directional move. Key points: - Major deleveraging event with $1B+ liquidations - Altcoin open interest and speculative activity declining - Market awaiting fresh catalysts for direction - ETF flows and macro factors remain critical Traders are advised to monitor ETF inflows and broader market conditions for signs of renewed momentum.

Latin America continues to show significant growth in cryptocurrency adoption, with notable developments: - Colombia and Brazil emerge as regional leaders in crypto adoption - Female crypto investors show remarkable increase in both countries - Institutional growth and stablecoin adoption gaining momentum - @fabitcoiner highlights key developments in tokenization Events like @CriptoLatinFest and Bitfinex Business Day are fostering ecosystem development. The region demonstrates strong potential for digital asset infrastructure growth. Learn more about Latin America's crypto evolution: [Watch the full analysis](https://youtu.be/TPlCkp95vo8)