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Crypto Market Declines: Over $180 Billion Wiped Out In A Day

by THEFUTURE.TEAM

November 27, 2024

The cryptocurrency market faced a significant downturn as Bitcoin retreated further from the highly anticipated $100,000 milestone. Investor profit-taking following a post-election rally triggered a sharp drop, erasing $182 billion from the market’s capitalization, which now stands at $3.35 trillion.

Key Developments

Bitcoin Drops: The price of Bitcoin declined 3.6% in the last 24 hours to just above $92,311, marking a 6.2% loss for the week.
Election Rally Reversed: The drop follows a rally spurred by the election of Republican Donald Trump, whose administration promised crypto-friendly policies. The optimism pushed Bitcoin close to $100,000, peaking at $99,000.
Altcoins Follow Suit: Other major cryptocurrencies also saw declines. Ether, the second-largest token, fell 4.2% to $3,346, while Solana’s Sol token dropped 8.9% to $231.88.

Broader Context

Bitcoin has surged 122% year-to-date, buoyed by favourable macroeconomic factors. The SEC’s approval of spot Bitcoin ETFs in January and the cryptocurrency’s halving event in April have been major catalysts. Central banks’ interest rate cuts and increased market liquidity have also provided a supportive backdrop for digital assets.

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Looking Ahead

Despite the current slump, market analysts remain optimistic about Bitcoin’s long-term potential. Many believe the cryptocurrency still has room to rise, with the $100,000 benchmark viewed as an achievable milestone.

As the crypto market adjusts, investor sentiment will likely hinge on regulatory developments and macroeconomic trends in the coming months.

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EU Slaps Apple And Meta With Hefty Fines For Digital Market Violations

by News Editor

April 23, 2025

Hefty Penalties for Tech Giants

The European Commission has recently imposed substantial fines on tech behemoths Apple and Meta. Apple faces a €500 million penalty, while Meta has been fined €200 million for breaching the Digital Markets Act (DMA).

Behind the Decision

After engaging in extensive discussions with the companies, the Commission concluded that both giants failed to adhere to the DMA’s regulations. These decisions could potentially lead to diplomatic friction, especially considering former U.S. President Donald Trump’s threatened tariffs on nations that impose penalties on American firms.

Messages from the Commission

Teresa Ribera, Executive Vice President of the European Commission, emphasized the importance of this ruling. “The DMA is a pivotal tool ensuring that digital players operate within fair market boundaries. Apple and Meta’s actions have amplified user dependency on their platforms, contravening our laws,” she stated.

A Wider Impact on the Digital Economy

This landmark decision underscores the EU’s commitment to nurturing a balanced digital market landscape. As Cyprus continues its economic ascent, with its GDP reaching €33.57 billion, such regulatory measures are critical for maintaining cross-border economic stability.