$BTC

Assalamu Alaikum

Major cryptocurrencies fell sharply on Tuesday following the announcement of a new regulatory oversight committee in the US, with total market liquidations reaching nearly $485 million in the past 24 hours.

$BTC fell to $96k, its lowest level in the past 24 hours of trading, while the total crypto market capitalization dropped 2.92% to $3.23 trillion.

The drop coincided with the announcement by the new US “crypto czar,” David Sacks, on the formation of a bipartisan, bicameral committee to establish a regulatory framework for digital assets.

Image taken from the network