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Today in crypto, Elon Musk's X platform has been targeted by a cyberattack, while crypto exchange-traded products (ETPs) recorded a fourth straight week of outflows, with $876 million in losses during the past trading week. Meanwhile, Utah's senate has passed a Bitcoin bill but without the originally proposed Bitcoin reserve provision. Elon Musk: There is a 'massive cyberattack against X' The X social media platform has been hit with a "massive cyberattack" that has prevented some users from accessing the site, platform owner Elon Musk confirmed on March 10. "We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved," Musk said. Although user functionality was quickly restored, Musk implied that the attack wasstill ongoing. There were more than 33,000 reports of X outages on March 10, according to Downdetector. Musk confirmed the cyberattack in response to a social media user who detailed a series of attacks against the entrepreneur's interests, from protests against the Department of Government Efficiency (DOGE) to vandalism of Tesla stores. As NBC News reported, there have been at least 10 acts of vandalism against Tesla stores and vehicles, likely in response to the billionaire entrepreneur's involvement in the Trump White House.Crypto ETPs see fourth straight week of outflows, totaling $876 million After posting record weekly outflows of $2.9 billion last week, crypto ETPs continued their downward trend, bringing the four-week total outflows to $4.75 billion, CoinShares reported on March 10. While the pace of outflows slowed, investor sentiment remained bearish, according to James Butterfill, head of research at CoinShares. The analyst also suggested that the market has shown signs of capitulation. Bitcoin (BTC) ETPs were the primary driver of outflows, accounting for $756 million, or 85% of last week's total. Short-Bitcoin ETPs also saw outflows of $19.8 million, the most since December

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#bitcoin.” coin below $80K as market hits "extreme fear" for first time since FTX with over $800M liquidated in 24 hours. Here's what's going on!

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🚨BREAKING : Elon Musk reassures investors after Tesla’s stock drops 15.4%, saying the company “will be fine long-term.”🚀 Despite market concerns, he remains confident in Tesla’s future growth and innovation. #Tesla #StockMarketSuccess

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The recent drop in cryptocurrency prices is due to several factors: 1. US Government’s Crypto Reserve Announcement – Investors were expecting the US government to buy more Bitcoin after an announcement by Donald Trump. However, it was later revealed that the government would only use Bitcoin seized from criminal cases. This disappointed investors, causing Bitcoin’s price to drop by about 6%. 2. Negative Sentiment on Bitcoin ETFs – Investors have shown less enthusiasm toward Bitcoin ETFs, leading to a decline in demand. 3. Security Concerns & Hacks – A recent hacking incident on Bybit, a popular crypto exchange, has also created fear in the market.

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Latest News

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U.S. Bitcoin ETFs See Significant Inflows While Ethereum ETFs Experience Outflows

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Market Reacts Positively to Employment Data Amid Tariff Concerns

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