Bitcoin Plunges Below $77,000 Amid Fed Rate Hike Fears and Oil Price Surge
Bitcoin's price has dropped below $77,000 as traders anticipate a potential Federal Reserve rate hike and rising oil prices contribute to risk-off sentiment. The combination of macro pressures has led to increased volatility in the crypto market, with investors reassessing their exposure to risk assets.
The revised CLARITY Act is taking aim at 'non-decentralized' DeFi operators, signaling tighter oversight for platforms that retain significant central control. Meanwhile, India has launched a pilot to tokenize its $620 billion corporate bond market using the digital rupee for settlement.
Ripple CEO Brad Garlinghouse reiterated his long-term vision for XRP, aiming for a $10 trillion market cap. Solana recorded a daily high of 263,000 new SPL tokens, the most ever in a 24-hour window.