[News Brief] Apr 22, morning | Broad Crypto Market Selloff… BTC Falls Below $67,000, ETH Slips Under $1,900

Broad Crypto Market Selloff… BTC Falls Below $67,000, ETH Slips Under $1,900

PANews, citing SoSoValue data on the 3rd, reported that the overall cryptocurrency market declined, with Bitcoin (BTC) down 6.03% to below $67,000 and Ethereum (ETH) falling 6.52% to below $1,900.

The AI sector fell 6.06%, while Bittensor (TAO) and Worldcoin (WLD) dropped 7.67% and 8.17%, respectively. In contrast, the real-world asset (RWA) sector rose 3.48% over 24 hours, making it the only major sector to post gains. Ondo Finance (ONDO) climbed 11.33%, while Plume (PLUME) rose 3.63%.

DeFi, Layer 1, CeFi, PayFi, Layer 2, and meme coin sectors also mostly recorded losses. Even amid broad risk-off sentiment across markets, some RWA tokens and individual altcoins showed rebound momentum.

Oil Prices Rise Amid Additional U.S.-Iran Clashes

International oil prices moved higher amid additional clashes between the United States and Iran, coupled with a decline in U.S. crude inventories.

According to reports, concerns over supply disruptions grew after the U.S. attacked a tanker and shot down an Iranian drone, while U.S. crude stockpiles also fell sharply.

Rising tensions in the Middle East could lead to higher energy prices and inflationary pressure, further weighing on investor sentiment toward risk assets.

Iran’s Revolutionary Guard Claims Attacks on U.S./Israeli Ships and Bases

According to Odaily, Iran’s Islamic Revolutionary Guard Corps said in a statement early on the 3rd local time that it had fired missiles at the U.S.- and Israeli-affiliated vessel 'Panaya' in response to a U.S. attack.

The Guards claimed that on the night of the 2nd, U.S. shells hit an Iranian tanker near the Strait of Hormuz, damaging its engine room, and that U.S. forces later attacked a Revolutionary Guard communications tower in southern Qeshm Island.

In response, the IRGC Aerospace Force said it launched missiles and drones at a U.S. air base in a country in the region and at the headquarters of the U.S. Fifth Fleet. Iran warned that any threat to the security of the Strait of Hormuz would carry consequences for U.S. forces.

Speculative Net Long Dollar Positions Hit $16.5 Billion, Highest Since February 2025

According to Odaily, The Kobeissi Letter said on X that speculative net long positions in the U.S. dollar had risen to $16.5 billion, the highest level since February 2025.

The positions reflect trades built by hedge funds and asset managers based on price action and macroeconomic expectations, excluding hedging-related positions.

Over the past two weeks, bullish dollar bets have tripled and extended to 11 consecutive weeks of net long positioning, the longest streak since 2024–2025.

The Kobeissi Letter said dollar demand has remained strong as the U.S. economy continues to outperform other major economies despite the Iran war and disruptions in global commodity supply.

K33: Bitcoin Could Face a Volatile Summer as Capital Crowds Into AI Stocks

K33 Research said Bitcoin may be in for a volatile summer as capital flows increasingly into AI-related equities.

According to the report, Vetle Lunde, Head of Research at K33, said Bitcoin’s weakness reflects softer institutional demand, spot ETF outflows, and rising instability in derivatives markets.

He explained that amid the sharp rally in AI-related assets, the market is assigning a higher opportunity cost to holding Bitcoin, while strength in the Nasdaq and S&P 500 is also encouraging capital to rotate out of crypto.

Spot Bitcoin ETFs have reportedly seen a decline of 62,794 BTC over the past three weeks, marking the second-largest consecutive outflow on record.

K33 had previously viewed a pullback toward $60,000 as a major correction within this cycle, but now warns that leveraged long positions building up in a weak market could create additional selling pressure.

Strive Buys Another 2,500 BTC, Bringing Total Holdings to 19,000 BTC

Strive purchased an additional 2,500 Bitcoin between May 23 and June 1, increasing its total holdings to 19,000 BTC, PANews reported, citing Cryptopolitan.

The purchase was worth about $185.2 million, at an average price of roughly $74,092 per BTC. Most of the funding for the acquisition was reportedly raised through SATA preferred shares.

Strive’s Bitcoin holdings increased 15.2% from 16,500 BTC. The company’s CEO said on X that Bitcoin yield was 23% year-to-date and 36.7% so far this year.

Anchorage Digital-Linked Wallet Stakes 55,594 ETH

Odaily, citing Onchain Lens monitoring, reported that a wallet linked to Anchorage Digital (0x1C4...7BB2) staked 55,594 ETH into Ethereum 2.0.

The staked ETH was valued at approximately $109.9 million. Staking, which locks ETH for network validation, can be interpreted as a factor that reduces circulating supply.

South African Court Rules Overseas Bitcoin Transfers Constitute Capital Flight

A South African court has ruled that transferring Bitcoin to overseas exchanges can be considered capital flight subject to foreign exchange controls.

According to PANews, citing IOL, the Gauteng High Court in South Africa determined that Bitcoin qualifies as capital and currency under the country’s exchange control regime and ordered the forfeiture of Bitcoin assets worth about 6 million rand.

The court took issue with a trader who transferred about 1,680 BTC between January 2018 and March 2020 through a Luno account to wallets accessible only via foreign-registered cryptocurrency exchanges. It found this to be an unapproved export of capital without Treasury authorization.

Last month, South Africa’s Treasury released a draft law on cross-border capital flow management for public comment. The bill aims to strengthen reporting and monitoring of high-risk cross-border transactions.

Lawmakers Urge U.S. Labor Department to Withdraw Proposal Allowing Crypto in 401(k) Plans

Democratic lawmakers including Senators Bernie Sanders and Elizabeth Warren and Representative Robert Scott have urged the U.S. Department of Labor to withdraw a proposed rule that would allow alternative assets such as cryptocurrencies in 401(k) retirement plans, The Block reported.

In a letter, they argued that the proposal would effectively provide fiduciaries with liability protection, weakening safeguards for retirement savers and encouraging inclusion of riskier, more complex, and more expensive products.

In March, the Labor Department had introduced a proposal allowing 401(k) managers to include alternative assets such as private equity, real estate, and digital assets in portfolios.

The lawmakers cited the high volatility of digital assets and the risk of crypto-related fraud, and also pointed to potential conflicts of interest involving the Trump family’s ties to crypto businesses.

Coinbase Ventures Buys ENA on the Open Market, Making First Investment in Ethena

According to Wu Blockchain, Coinbase Ventures made its first investment in Ethena by purchasing ENA on the open market.

Ethena separately announced a partnership with Coinbase to expand on-chain finance and savings products to Coinbase’s more than 100 million users. The first growth program is scheduled to begin next week.