The Bitcoin and Ethereum price crashed below $67,000 and $2,500 following an alleged investigation into the USDT issuer Tether by the US Department of Justice.
The news sparked a major crypto market selloff due to fear and uncertainty among market participants.
Israel's retaliatory attack on Iran also contributed to the price crash, causing panic in the market.
The breakdown in the Bitcoin and Ethereum price is seen as a concerning sign, with potential selling pressure if the pattern continues.