The crypto market faced a severe correction over the last 24 hours, with Bitcoin falling to the $84,000 range and total market capitalization dropping below $3 trillion. This risk-off move triggered nearly $1 billion in total liquidations, primarily flushing out long positions, and sent the Fear & Greed Index into "Extreme Fear" territory. Simultaneously, capital rotated into traditional safe havens, pushing gold and silver prices to historic highs. Despite the bearish price action, long-term institutional news was overwhelmingly positive. Vanguard announced a major pivot to allow clients to trade crypto ETFs starting late 2025, and Grayscale received approval for the first spot Chainlink ETF. In Asia, Japan moved toward a favorable 20% flat tax on crypto assets, and Sony Bank revealed plans for a US dollar stablecoin, highlighting continued corporate adoption. On the infrastructure front, Hyperliquid dominated volumes despite massive user liquidations, and Kalshi launched tokenized prediction markets directly on Solana. However, the ecosystem faced renewed challenges as China intensified its crackdown on stablecoins and illegal forex, while DeFi protocol Yearn Finance suffered a $9 million exploit, though a portion of funds was later recovered.