Morning Minute: Crypto Majors Slide on Iran Escalations, ETF Outflows
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- Bitcoin slipped below $73,000, trading at $73,260, a 3.4% drop in 24 hours, its lowest level in six weeks.
- Bitcoin spot ETFs saw $1.07 billion of outflows over two days, the worst since Jan 29, with eight straight days erasing $2.6 billion since May 15.
- Iran escalated overnight, pushing oil up 2.5% and sparking risk‑asset sell‑offs that pressured crypto prices.
- Jefferies projects a $1 trillion crypto public market within five years, citing tokenization and upcoming IPOs as catalysts.
- Polymarket faced its second insider‑trading arrest, a Google engineer detained for illicit activity.
Why it matters: Crypto investors lose over $2.6 billion as ETFs siphon cash, while institutional players eye a $1 trillion market, and regulators tighten scrutiny after a Polymarket insider‑trading arrest.
