Bitcoin Plunges Below $60K Before Rebound, Binance Seeks EU License Amid MiCA Deadline

Crypto markets saw significant fluctuations over the past day, with Bitcoin (BTC) experiencing a sharp drop below $60,000 before recovering to around $61,500. The sudden decline led to nearly $1 billion in liquidations, with long positions accounting for $780 million of that figure.

According to recent data, ETF flows saw $469 million exit various BTC funds, the largest day of outflows this month. BlackRock was a major contributor, leading the way with $239 million from its IBIT ETF.

HYPE and AVAX are two notable exceptions in the crypto market, currently up 3% and 2.5%, respectively. Trading volume has increased to $98 billion, a notable increase from yesterday's $76 billion.