The cryptocurrency market is under extreme bearish pressure, with Bitcoin (BTC) price inching closer to $65,000 and total liquidations over the last 24 hours surpassing $1.80 billion.
JPMorgan CEO Jamie Dimon has sharply criticized the proposed Digital Asset Market Clarity Act (CLARITY), warning that major US banks will oppose the legislation in its current form.
Bitcoin (BTC) extends its losses, trading below $74,000 on Thursday amid fresh tensions between the US and Iran. Institutional demand continues to fade with spot Exchange Traded Funds (ETFs) recording strong steady outflows since mid-May.