U.S. Treasury Secretary Says Strategic Bitcoin Reserve Push Is Moving Quickly
The U.S. Treasury Secretary said efforts to establish a strategic Bitcoin reserve are moving quickly.
According to @pete_rizzo_, the Treasury Secretary said the Clarity Act, a crypto market structure bill, is expected to pass this summer.
He explained that the government is building a long-term legal framework for cryptocurrencies. The remarks came as discussions continue in the United States over a Bitcoin reserve and the broader regulatory framework for digital assets.
$1.105 Billion Liquidated Across Crypto Market in 24 Hours
According to Odaily, citing CoinGlass data, 196,868 traders were liquidated across the crypto market over the past 24 hours, with total liquidations reaching $1.105 billion.
Of the total, long liquidations accounted for about $891 million, while short liquidations totaled about $215 million. The largest single liquidation occurred on HTX's BTC-USDT trading pair and was worth $59.6723 million.
1,730 BTC Transferred to Kraken
According to Whale Alert, 1,730 BTC, worth about $114.02 million, was transferred from an anonymous wallet to Kraken.
Large Bitcoin transfers to exchanges are generally interpreted as a possible sign of selling intent or a move to secure liquidity.
115.2 Million USDT Transferred From Bitfinex to Tether Treasury
According to Whale Alert, 115.2 million USDT, worth about $115.06 million, was transferred from Bitfinex to Tether Treasury.
The transaction was confirmed on the Ethereum network. However, it has not been disclosed whether the transferred amount is intended for burning, redemption, or reallocation.
Kuwait Petroleum Says Full Oil Output Recovery Will Take 10 to 12 Weeks
Kuwait Petroleum Corporation said that even if the Strait of Hormuz reopens, it will take 10 to 12 weeks to fully restore oil production.
This runs counter to market expectations that supply would normalize quickly after the strait reopens. As a key route for Middle Eastern oil shipments, disruptions in the Strait of Hormuz could affect global oil prices and inflation expectations.
1,442 BTC Transferred From Coinbase Institutional Account to New Unidentified Wallet
According to Whale Alert, 1,442 BTC was transferred from a Coinbase institutional account to a new unidentified wallet.
The transfer was worth about $95.17 million. Large transfers from exchanges to external wallets may be interpreted as custody-related withdrawals or possible over-the-counter transactions, though the exact purpose has not been confirmed.
1,385 BTC Moved From Anonymous Wallet to Coinbase Institutional
According to Whale Alert, 1,385 BTC, worth about $91.30 million, was moved from an anonymous wallet to Coinbase Institutional.
Large transfers to exchanges are generally associated with potential selling activity, though the exact purpose of this transaction has not been confirmed.
1,730 BTC Transferred From Kraken to Unidentified Wallet
According to Whale Alert, 1,730 BTC was transferred from Kraken to an unidentified wallet.
The transfer was worth about $113.97 million. Large transfers from exchanges to external wallets can be interpreted as withdrawals for custody purposes.
U.S. Secretary of State Rubio Says Military Operation Against Iran Has Ended
U.S. Secretary of State Marco Rubio said during a House Appropriations Committee hearing on the 3rd local time that the U.S. military operation against Iran, codenamed 'Midnight Hammer,' has ended and that the United States was victorious.
According to Odaily, Rubio said, “Strikes on targets inside Iran are no longer continuing.” He added that while the United States and Israel significantly degraded Iran’s military capabilities, Iran still retains some drone and maritime operational capabilities.
Polymarket Daily Crypto Trading Volume Hits $176 Million
Odaily, citing Artemis data, reported that Polymarket’s daily crypto trading volume reached $176 million.
This marks the platform’s highest daily trading volume on record. Polymarket is a crypto-based prediction market platform, and interest in on-chain prediction markets has been rising recently.
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