📉 Bitcoin Slips Below $80K
Bitcoin is trading below $80,000 on Thursday after three consecutive days of losses. Market sentiment has turned risk-off following a bullish positional wipeout in the derivatives market. BTC is sitting at around $79,319, down roughly 1.47% on the day, with the Fear & Greed Index dropping to 34 from 42 previously — firmly in "Fear" territory.
💥 $370M in Liquidations
Bitcoin's drop below $80,000 triggered forced liquidations of highly leveraged bullish positions in the futures market. CoinGlass data shows total liquidations over the last 24 hours at roughly $370 million, with $311 million of that coming from long positions.
🔴 Biggest Losers: LUNC & TON
Terra Classic (LUNC) and Toncoin (TON) are leading the losses over the last 24 hours, extending a pullback after the previous week's recovery.
🟡 Ethereum Holds, But Under Pressure
Ethereum is trading at around $2,258, down 0.73%. Analysts note that $2,400 has been capping every rally attempt, while a breakdown below $2,200 on elevated volume could re-test the $2,000 psychological support level.
🏛️ Major Regulatory Moment: CLARITY Act
The U.S. Senate Banking Committee is holding a critical hearing today on the CLARITY Act — the first comprehensive U.S. crypto market structure legislation. A compromise has been reached on the stablecoin yield dispute: issuers are barred from paying interest purely for holding stablecoins, but user incentives tied to related activities are permitted. If approved, the bill is expected to advance to a Senate vote in June, with the White House targeting July 4 for final signing.
🏦 Charles Schwab Enters Spot Crypto
Charles Schwab has begun offering spot crypto trading services to U.S. retail clients — a notable sign of continued institutional adoption despite the current market dip.
📈 XRP Dominates Korean Exchanges
XRP spot trading volume topped Upbit, surpassing both BTC and ETH on the major South Korean exchange — suggesting strong regional demand for XRP even as the broader market softens.
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