Bitcoin plunged below the $73,000 mark for the first time in months after fresh U.S. airstrikes on an Iranian military site near the Strait of Hormuz rattled global markets and triggered nearly $1 billion in liquidations across the crypto market. Additionally, outflows from Bitcoin ETFs continued for the 8th straight day, pulling out over $2 billion from the asset.
Despite reports that U.S. and Iranian negotiators reached a 60-day ceasefire framework tied to nuclear talks, uncertainty remains as President Donald Trump and Iran have yet to formally approve the proposal.
Bitcoin hovered around the $73,000 mark today, down by 2.45% in 24 hours and over 5% in the past week, while slipping out of the world’s top 10 assets by market capitalization to 13th place.
Macro sentiment also weakened after the Fed’s preferred inflation gauge, PCE, surged to 3.8%, its highest level in nearly three years.
Ethereum hovered around $2000, down by almost 3% in the past 24 hours and over 6% in the past week. BNB dropped 2.5% to $637, XRP slipped to $1.31, Solana edged down 2.7% to $81, Tron slid over 5% to $0.35
The global crypto market cap stands at $2.45%, down by 3% in 24 hours.
The broader sentiment also remains weak due to the lack of progress on key U.S. crypto legislation, including the Digital Asset PARITY Act and the CLARITY Act, keeping investors cautious.
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