The crypto market is experiencing a correction influenced by escalating geopolitical tensions in the Middle East, surging oil prices, and broader risk-off sentiment.
Here's what went down in crypto over the past 7 days:
▶️ Summary:
▪️ Oil explodes past $110/barrel (Brent testing 2022's $130 highs) as Iran declares closure of the Strait of Hormuz.
▪️ BTC dumps to $66K. Extreme fear grips the market, heavily correlated with the oil surge and escalating regional conflict.
▪️ Altcoins are bleeding out. The sector is sinking underwater with severe market cap losses, underperforming BTC as liquidity dries up and investors flee risk.
▪️ Solv Protocol (SOLV) hacked, draining $2.7M USD.
▶️ Hot & Upcoming:
▪️ WLFI governance vote: Proposal requiring users to lock tokens for >180 days to retain/participate in voting rights - currently achieving overwhelming support at 99.31% approval.
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