<p>Bengaluru: Bitcoin came under fresh selling pressure following the US airstrikes on Iran, triggering nearly $1 billion in liquidations across the crypto market. The largest cryptocurrency, Bitcoin, was trading at $72,842 on Thursday evening.</p><p>"Outflows from <a href="https://www.deccanherald.com/tags/bitcoin">Bitcoin</a> ETFs continued for the 8th straight day, pulling out over $2 billion from the asset. The broader sentiment also remains weak due to the lack of progress on key US crypto legislation, including the Digital Asset PARITY Act and the CLARITY Act, keeping investors cautious. BTC must defend the $70,000 level to avoid further downside. A sustained move above $75,000 could help stabilise the price in the short term," Akshat Siddhant, Lead quant analyst, Mudrex, said.</p>.Sriki, two associates remanded to judicial custody in Bengaluru Bitcoin case.<p>Experts said crypto markets are still moving in two different directions right now.</p><p>"On one side, macro-driven assets are waiting for the next big trigger. On the other side, strong utility tokens are attracting attention because people are actually using them. Bitcoin remains the backbone of the market, but the bigger story this week is Hyperliquid (HYPE). While most of the market stayed volatile, HYPE managed to hit a new all-time high. That’s a strong signal," WazirX said.</p><p>BTC is still struggling around the $75k level. Bulls tried holding it earlier this month, but momentum faded quickly. Now all eyes are on the $75K resistance zone as bears test market strength, the crypto exchange said.</p><p>The second-largest cryptocurrency, Ether, slipped below $2,000 for the first time since March this year.</p>.Bitcoin case: ED arrests hacker, aides aids in Rs 11.5 crore Bitcoin scam in Bengaluru.<p>Meanwhile, in response to US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump</a>’s recent statement on Truth Social, where Trump reaffirmed his commitment to making America the 'Crypto Capital of the World', Sumit Gupta, Co-Founder at CoinDCX, said the fact that the US is ahead in this space is not a coincidence; it is the result of deliberate policy. </p><p>By providing regulatory clarity, such as approving spot Bitcoin ETFs, the US unlocked unprecedented institutional participation, amassing $100 billion in total net assets. Giants like BlackRock and Fidelity moved decisively. "That is the sheer power of policy conviction meeting institutional readiness. India should be paying close attention," he said.</p>
<p>Bengaluru: Bitcoin came under fresh selling pressure following the US airstrikes on Iran, triggering nearly $1 billion in liquidations across the crypto market. The largest cryptocurrency, Bitcoin, was trading at $72,842 on Thursday evening.</p><p>"Outflows from <a href="https://www.deccanherald.com/tags/bitcoin">Bitcoin</a> ETFs continued for the 8th straight day, pulling out over $2 billion from the asset. The broader sentiment also remains weak due to the lack of progress on key US crypto legislation, including the Digital Asset PARITY Act and the CLARITY Act, keeping investors cautious. BTC must defend the $70,000 level to avoid further downside. A sustained move above $75,000 could help stabilise the price in the short term," Akshat Siddhant, Lead quant analyst, Mudrex, said.</p>.Sriki, two associates remanded to judicial custody in Bengaluru Bitcoin case.<p>Experts said crypto markets are still moving in two different directions right now.</p><p>"On one side, macro-driven assets are waiting for the next big trigger. On the other side, strong utility tokens are attracting attention because people are actually using them. Bitcoin remains the backbone of the market, but the bigger story this week is Hyperliquid (HYPE). While most of the market stayed volatile, HYPE managed to hit a new all-time high. That’s a strong signal," WazirX said.</p><p>BTC is still struggling around the $75k level. Bulls tried holding it earlier this month, but momentum faded quickly. Now all eyes are on the $75K resistance zone as bears test market strength, the crypto exchange said.</p><p>The second-largest cryptocurrency, Ether, slipped below $2,000 for the first time since March this year.</p>.Bitcoin case: ED arrests hacker, aides aids in Rs 11.5 crore Bitcoin scam in Bengaluru.<p>Meanwhile, in response to US President <a href="https://www.deccanherald.com/tags/donald-trump">Donald Trump</a>’s recent statement on Truth Social, where Trump reaffirmed his commitment to making America the 'Crypto Capital of the World', Sumit Gupta, Co-Founder at CoinDCX, said the fact that the US is ahead in this space is not a coincidence; it is the result of deliberate policy. </p><p>By providing regulatory clarity, such as approving spot Bitcoin ETFs, the US unlocked unprecedented institutional participation, amassing $100 billion in total net assets. Giants like BlackRock and Fidelity moved decisively. "That is the sheer power of policy conviction meeting institutional readiness. India should be paying close attention," he said.</p>