Crypto Chaos: Market Reset, Regulatory Battles & Surprising Bright Spots
Crypto markets head into the night bruised but not broken, with a sharp selloff, fresh regulatory battles, and a few surprising bright spots shaping the day’s narrative. The headline story is the reset across majors. Bitcoin (BTC) briefly crashed below 65K, touching the low 63K range as risk-off panic hit crypto stocks and broader markets. Leveraged positions were flushed out, ETFs saw outflows, and fear spiked as traders started to question Bitcoin’s short-term role as an inflation hedge under mounting macro pressure. Ethereum (ETH) fared even worse. The asset broke through key support, sliding toward 2,100 and briefly losing the 2,000 level, wiping around 27 percent from its value and contributing to a roughly 100 billion dollar drawdown across the market. That pain rippled through institutions and big treasuries. BitMine, which holds 4.2 million ETH, is now sitting on 7–8 billion dollars in unrealized losses as ETH fell below 2,000, dragging its own share price down about 8 ...