The crypto market is facing high volatility as Bitcoin and Ethereum experienced sharp reversals after reaching recent highs. Bitcoin briefly surged past $117,000, and Ethereum hit a record near $4,950, but both quickly dropped due to a large-scale sell-off from a major holder. This flash crash triggered nearly $840 million in liquidations across crypto markets. Despite positive signals from the Federal Reserve suggesting potential rate cuts, investor confidence remains shaky. Additionally, stablecoin regulations are under pressure, with U.S. banks warning of risks to the traditional financial system. Overall, crypto sentiment is cautious, with ETF outflows, regulatory uncertainty, and macroeconomic factors all contributing to the turbulence. Traders are watching closely for signs of recovery or further declines.😎