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With visible panic on social media after yesterday’s $900 million liquidation across the crypto market, Edward Snowden remains unfazed.
The overall crypto market cap has fallen by nearly 5% since yesterday, and the meme coin market has fallen by 13%.
<a href="https://crypto.news/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> dropped to $65,000, with daily trading volume soaring to 60%, indicating a wider sell-off from investors. <a href="https://crypto.news/bitcoin-etfs-55m-net-outflow-btc-drops-65k-on-friday/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> also saw a net outflow of $55 million yesterday.&nbsp;
However, Snowden — a computer intelligence consultant and whistleblower famous for leaking classified information from the National Security Agency — took to social media to dismiss this panic.
In a short <a href="https://twitter.com/Snowden/status/1778906788009570306" target="_blank" rel="noopener noreferrer nofollow">tweet</a>, Snowden emphasized that despite the overnight <a href="https://crypto.news/bitcoin-drops-65k/" rel="noopener noreferrer nofollow">liquidation</a>, Bitcoin’s price is almost the same as it was a week ago.&nbsp;
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 &gt; see crypto people freaking out over prices &gt; open bitcoin chart &gt; price is the same it was 7 days ago &gt; return to watching anime— Edward Snowden (@Snowden) <a href="https://twitter.com/Snowden/status/1778906788009570306?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">April 12, 2024</a>
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You might also like: <a href="https://crypto.news/bitcoin-etfs-55m-net-outflow-btc-drops-65k-on-friday/" rel="noopener noreferrer nofollow"> Bitcoin ETFs see $55m net outflow, as BTC drops to $65k </a>
Bitcoin has shown notable volatility whenever ETFs have experienced a net outflow. However, the month-to-month price of BTC has remained significantly bullish throughout this year.
The largest cryptocurrency started this year at $42,000 and rallied to $50,000 in February. In March, BTC hit a new all-time high at $73,000.&nbsp;
Snowden’s optimism is well-founded as Bitcoin’s <a href="https://alternative.me/crypto/fear-and-greed-index/" target="_blank" rel="noopener noreferrer nofollow">fear and greed index</a> still sits at ‘Greed’, despite yesterday’s sharp liquidation.
However, the altcoin market recorded the largest losses, as major tokens like <a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">Solana</a>, <a href="https://crypto.news/price/xrp/" rel="noopener noreferrer nofollow">XRP</a>, and <a href="https://crypto.news/price/avalanche/" rel="noopener noreferrer nofollow">Avalanche</a> have dipped nearly 10% since yesterday.&nbsp;
Read more: <a href="https://crypto.news/dogwifhat-needs-a-vet-faces-steep-price-drop-analyst/" rel="noopener noreferrer nofollow"> Dogwifhat ‘needs to see vet’ after facing steep price drop, analyst says </a>

Edward Snowden is not worried about Bitcoin prices dropping

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