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Jim Ferraioli, Director of Digital Currencies Research at Charles Schwab, told Bloomberg that the firm's entire investment framework for Bitcoin is anchored to miner production costs, a metric that places the current price dangerously close to the cost floor for the most efficient producers in the world.

On a day when $1.7 billion in leveraged positions were forcibly liquidated across the crypto market, Worldcoin quietly crossed $1 billion in trading volume and added 29% to its price. Bitcoin dropped to $66,000. Ethereum broke below $2,000. WLD went the other direction entirely.