Trump claims the "Genius Act" is under threat from banks, emphasizing the protection of the crypto industry

The U.S. Treasury Secretary angrily criticized the FT for "fabricating content" and denied ever supporting a model based on the Bank of England.

U.S. Treasury Secretary Scott Bessent criticized the Financial Times report about his support for a accountability mechanism similar to that of the Bank of England, calling it "a complete fabrication." He emphasized that he had not proposed any related plans and expressed disdain for the Bank of England's communication mechanism. This incident reflects the sensitivity of the U.S. regarding the independence of its monetary policy, and it could impact the cryptocurrency market.

David Sacks Steps Down to Become Co-Chair of PCAST: Is the U.S. Crypto and AI Policy Direction Changing?

David Sacks has concluded his 130-day tenure as the White House's cryptocurrency and artificial intelligence affairs chief and will transition to co-chair of the President's Council of Advisors on Science and Technology, continuing to influence U.S. technology policy. He will focus on advancing a unified regulatory framework for artificial intelligence and engage in policy research across several key areas. This change may affect the future coordination of cryptocurrency and AI regulation.

Bitcoin ETF saw a single-day outflow of $171 million, the highest in three weeks; the situation in the Middle East has become a key variable for institutional positioning

Due to the tense situation in the Middle East, there has been an outflow of funds from the U.S. spot Bitcoin ETF, with a net outflow of $171 million on Thursday, marking the largest redemption since March. At the same time, the price of Bitcoin has fallen below $70,000, and market risk aversion has increased. Although there is short-term pressure, there is still hope for long-term capital inflows. Analysts believe that future trends will be influenced by geopolitical factors.

Bitcoin fell below $68,000 triggering a chain reaction of liquidations, while U.S. Treasury yields approached 4.5%, putting pressure on risk assets.

Bitcoin has weakened again in the past 24 hours, falling below the $68,000 mark, leading to large-scale liquidations of long positions in the market. The liquidation pressure has not been fully released, with significant potential liquidity below $66,000. Rising U.S. Treasury yields and geopolitical instability further suppress the market, while a strengthening dollar also increases pressure on Bitcoin. Future trends will focus on the support situation at $66,000.

Why is the crypto market down today? Middle East conflict escalates; Bitcoin drops below $70,000; liquidations across the entire network total $300 million

On March 27, the crypto market continued to slide. Bitcoin fell below $70,000, and Ethereum and other major assets also generally pulled back. Rising geopolitical risks and higher oil prices weighed on the market. Funds flowed into traditional safe-haven assets, causing investor sentiment to turn cautious. Whether Bitcoin can rebound in the future will depend on changes in the macroeconomic environment.

David Sacks steps down as the Crypto Czar, impacting policy direction, and the fate of the "CLARITY Act" remains uncertain.

The regulatory landscape for cryptocurrency in the U.S. is changing, as David Sacks concludes his term in the Trump administration and transitions to co-chair of the Technology Advisory Council, leading to concerns about the continuity of digital asset policy. The outlook for the CLARITY Act has become uncertain, with the market focusing on future legislative developments and the emergence of new policy leaders.