The cryptocurrency market experienced a significant downturn as Bitcoin's price fell below $65,000, marking a notable decline. In related developments, Tom Lee addressed the ongoing debate surrounding Bitmine's $6.6 billion paper loss. Meanwhile, the U.S. Treasury confirmed it would not intervene to support Bitcoin, emphasizing its stance against a bailout. In regulatory news, the Commodity Futures Trading Commission (CFTC) has lifted its ban on political prediction markets, despite ongoing state-level crackdowns. Additionally, BlackRock's Institutional Bitcoin Trust (IBIT) saw its assets under management decrease from $100 billion to $60 billion. A report from JPMorgan highlighted that 89% of family offices continue to steer clear of cryptocurrency investments.