Just saw today's cryptocurrency news that is alarming. Bitcoin is fighting against pressure from the tense situation in the Middle East. The price has plunged to test the support near $77,500 after recently reaching a high of $78,400. The futures market recorded a long liquidation of over $260 million in just 24 hours, indicating hidden risks in the market.

What’s interesting is that Alex Thorn from a leading investment institute just revealed information about the Bitcoin cycle in 2024, which is much weaker than expected. The recent peak of $126,080 increased by only 97% from the halving price, compared to a 9,294% growth in 2012. This is a warning sign that the market is changing. Volatility has decreased to about 50% compared to the 80-90% crashes in the past. It seems that large financial institutions are taking control of this game.

Speaking of the heated crypto news, one story has set the industry on fire. RaveDAO is accused of manipulating the price of RAVE from around $0.25 to nearly $28 before crashing more than 90%. On-chain investigators suggest that the creators might hold more than 90% of the total supply. Leading trading platforms have immediately announced investigations. RAVE is now at $1.08, down 17.97% today. The project team denied the allegations, saying they plan to sell tokens to continue development. But this lack of transparency remains a major issue in the Web3 world.

On the positive side, stablecoins have now surpassed $300 billion. Although analysts from credit rating agencies assess that it cannot shake the banking system in the short term because current laws prohibit paying interest, this is becoming a heated political battleground in Congress. If laws change to allow stablecoins to pay yields, banks will face a severe capital outflow crisis.

To summarize today’s crypto news: the market is entering a more complex new era. The reduced volatility and weakened cycle suggest that the old theories may no longer apply. Investors need to closely monitor macroeconomic factors and legal changes. The Fear and Greed index today is at 29, reflecting clear market fear.