Bitcoin and other cryptocurrencies experienced a significant drop in value, with Bitcoin falling from $86,187.90 to $82,200 in a short period of time. This led to $616.7 million in liquidations across the crypto market, affecting numerous traders. The crypto market had hoped for a positive outcome from the US government's new crypto strategy, but the lack of a boost and regulatory uncertainty caused extreme fear among investors. Additionally, President Donald Trump's plans for tariffs and the establishment of a "US Crypto Reserve" using seized Bitcoin further contributed to the decline in Bitcoin's price.



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