On-chain analysis platform Spot On Chain analyzed via X, "As Bitcoin dropped below $74,000, selling movements are also being detected in smart money fund flows." It added, "News related to airstrikes between the U.S. and Iran and a surge in oil prices acted as a macroeconomic burden, causing selling pressure across the cryptocurrency market. During this process, large-scale fund outflows occurred across the altcoin market, and some altcoin prices also plummeted during the cascading liquidation of futures positions."
