Bitcoin has fallen from a high of $110,000, reaching a low of $104,600 within 24 hours (a drop of over 5%). Ethereum has dropped to $2,557, with over 200,000 liquidations across the network in 24 hours, totaling $330 million in liquidated positions. Long positions account for 97%. Bitfinex analysis points out that short-term holders have recently made $11.4 billion in profits, exacerbating selling pressure during the correction, but structural demand in the long term (such as ETF fund inflows) continues to support the market.
Hester Peirce, head of the SEC's cryptocurrency working group, emphasized at the Bitcoin 2025 conference: Investors must bear their own risks and should not seek government bailouts when incurring losses; Meme coins are purely speculative and the SEC has explicitly excluded them from regulatory oversight.
Nigel Farage, leader of the Reform Party in the UK, announced at the Bitcoin 2025 conference that if elected Prime Minister, he would promote legislation supporting crypto assets, including several policies such as establishing Bitcoin reserves at the Bank of England.
The gold-backed stablecoin USDKG, endorsed by the Kyrgyz government, may become the country's legal tender, with an audit process currently initiated by the 'Big Four' accounting firms.
The MEXC exchange has launched trading pairs for the USD1 stablecoin associated with the Trump family, enhancing liquidity for the digital token.
The federal appeals court overturned a previous ruling that blocked tariffs on Trump, temporarily reinstating the tariff policy and increasing uncertainty for businesses.
Abraxas Capital has shorted BTC, ETH, and SOL through two wallets on Hyperliquid using 10x leverage for spot hedging, with total profits exceeding $13 million.
Tether's CEO stated that the company holds over 100,000 bitcoins and over 50 tons of gold.
The Central African Republic is tokenizing 1,700 hectares of land on the Solana chain using the national Meme coin CAR.
Paris Saint-Germain announced that they will include Bitcoin in their financial reserves, becoming the first top football club to hold BTC.
Summary: The cryptocurrency market has experienced a significant downturn, with mainstream cryptocurrencies falling across the board, market sentiment is low, and a large number of investors faced liquidation. In terms of industry conferences, relevant parties in the US and UK expressed differing attitudes and policy proposals regarding cryptocurrencies, which has certain guiding significance for industry development. All participants should closely monitor market dynamics to make informed decisions.
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