The crypto market experienced a broad selloff, with Bitcoin (BTC) facing significant news including a $15 billion DOJ seizure linked to a 'pig-butchering' scam and continued discussion around its 'digital gold' narrative. Ethereum (ETH) risks lapsing into a bear market, declining by 3.32% in 24 hours. XRP saw developments in its Ledger expansion and potential futures market growth, despite a 3.84% 24-hour drop. Solana (SOL) whales are reportedly returning, while major altcoins like UNI, LINK, and LTC also saw significant price declines.
Key Developments
- US DOJ seized $15 billion in Bitcoin (BTC) linked to a 'pig-butchering' scam, marking a significant enforcement action.
- Bitcoin (BTC) continues to be viewed as a 'digital gold' and inflation hedge, with rising correlation to gold and record BlackRock ETF inflows.
- Ethereum (ETH) is at risk of entering a bear market as the broader crypto selloff deepens, with a 3.32% 24-hour decline.
- Ripple is expanding the XRP Ledger in Africa, seeking developers, and CME Group highlights a potential $23 billion XRP futures surge.
- Chainlink (LINK) is partnering with S&P Global Ratings to publish stablecoin stability assessments on-chain, enhancing DeFi transparency.
Next 6 Hour Outlook
The market is likely to consolidate with continued volatility, as major assets face selling pressure while specific altcoins may see short-term rallies based on development news or analyst forecasts.
Top Tickers
BTC
ETH
XRP
SOL
LINK
BNB
LTC
USDT
UNI
SHIB
ADA