Crypto prices took a hit with Bitcoin and Ethereum leading the decline. Over $1.2 billion in Bitcoin long positions were liquidated in a single day, contributing to a 4% drop in the market, reducing its total capitalization to $2.38 trillion.
Despite a brief rally after Hong Kong’s approval of spot ETFs, Bitcoin fell below $62,000 amid rising tensions between Iran and Israel. Other major altcoins also saw decreases.
Meanwhile, regulatory scrutiny intensifies with Senators requesting records of CFTC Chair’s communications with FTX’s ex-CEO, and Trust Wallet warning iPhone users of a zero-day exploit threat.
Additionally, BlackRock’s BTC ETF recorded inflows while others faced outflows. OKX launched X Layer, an Ethereum-based layer-2 network, aiming for faster transactions and interoperability.
South Korea intensifies its crypto tax crackdown, extending to Yeongcheon city. Various speculations arise, including concerns over a potential Bitcoin crash and the impact of Middle East tensions on the crypto market.
Source: COINGABBAR
