BTC falls below $74K amid smart money sell-off, says analyst

On-chain analysis platform Spot On Chain noted on X that as Bitcoin has fallen below $74,000, there are signs of selling from smart money. The platform added that news of airstrikes between the U.S. and Iran, coupled with a surge in oil prices, has created macroeconomic headwinds that triggered a sell-off across the cryptocurrency market. This led to significant capital outflows from the altcoin market, with some altcoins experiencing sharp price drops due to cascading futures liquidations.