BTC's failure to reach a new all-time high has led to a significant drop in its price, causing harm to over-leveraged traders and resulting in over 90,000 of them being liquidated. The recent rally in BTC was potentially driven by high inflows into US-based spot Bitcoin ETFs. Despite coming close to a new all-time high, BTC retraced slightly before experiencing a sudden drop. Many altcoins, including ETH, SOL, DOGE, and SHIB, have also suffered losses. The overall crypto market cap has decreased by approximately $100 billion, and over $280 million in positions have been liquidated, with the largest loss occurring on Binance.
Tether shifts focus to European, Middle Eastern and African markets in the face of US legal troubles