Bitcoin Drops Amid Liquidations and Macro Fears

Bitcoin experienced a significant drop, falling below $67,000 to a two-week low, with ether also declining as broader market sentiment turned risk-off. This downturn was exacerbated by the liquidation of approximately $300 million in leveraged long positions across crypto futures, indicating a rapid unwinding of bullish bets. Rising oil prices and geopolitical tensions contributed to investor caution, mirroring weakness in U.S. equity futures. While many altcoins suffered, Ondo Finance saw gains after announcing a partnership to tokenize ETFs on the Ondo Chain, highlighting specific sector developments amidst the general market decline.