📰 Evening Update: BTC Plunges, SOL Freezes — Stablecoins & U.S. Policy in Spotlight
Bitcoin ($BTC ) is now trading at $99,184, down a steep 3.16% today—its lowest level since early June.
Solana (SOL) slid around 6.4%, currently at $128.91, after spiking earlier .
🔍 Sell-Off Drivers
1. Geopolitical Flashpoint
Ongoing Middle East tensions caused ~$1.015 B in crypto liquidations, triggering panic selling across markets.
2. U.S. Stablecoin Law Surges
The Senate passed the GENIUS Act, imposing full-reserve requirements for stablecoin issuers. Circle’s stock rallied over 500% this week in response.
3. Tether’s Treasury Role
Tether now holds close to $98.5 B in U.S. Treasuries, helping stabilize yield curves and provide institutional confidence.
💡 My Perspective
BTC dip feels like a temporary shock—if tensions ease, expect a rebound above $100K.
SOL decline may be a rational reset—watch $130 as a potential bottom before recovery.
Stablecoin clarity from GENIUS Act could establish long-term credibility, making regulated stablecoins foundational to global adoption.
❓ Your Take:
Are you buying the dip in BTC or SOL?
Do you view stablecoin legislation as a boon or threat to crypto’s future?
Drop your strategy and thoughts below 👇
