US Treasury Secretary Bessent announced that the government will not purchase Bitcoin for a strategic reserve, stating instead that it will retain assets seized in crypto-related investigations. This decision comes amid a downturn in the cryptocurrency market.

Bitcoin transaction fees have surged to their highest levels in 2025, coinciding with BTC's challenge of the recent $106,000 price peak. This increase in fees highlights the growing demand for Bitcoin transactions amid fluctuating market conditions.

Ethereum treasuries held by 69 entities have surpassed 4 million ETH, valued at over $17 billion. Public companies own approximately 2.6 million ETH, while U.S. spot Ethereum exchange-traded funds hold about 6.7 million ETH, representing roughly 5.5% of the total ETH supply.

The $OM token of the Layer 1 blockchain MANTRA experienced a dramatic price drop of over 90% within just 90 minutes, with the team attributing the collapse to "reckless liquidations" rather than any internal misconduct. Community lead Dustin McDaniel and co-founder John Patrick Mullin denied allegations of manipulation while addressing investor concerns following the sudden crash.

Crypto markets experienced a significant downturn, with over $1.6 billion in leveraged positions liquidated and ether sinking to a two-year low. The selloff was influenced by broader macroeconomic concerns, including high U.S. tariffs and a bear market in equities, prompting traders to scramble to protect their positions. Some analysts suggest there may be potential for a short-term recovery depending on upcoming economic data.