Bitcoin drops from recent highs as traders watch CME gap, DeFi hack fallout

What Happened

Bitcoin declined from Friday's peak of $78,300 to under $75,000 as traders monitor a 3.8% CME futures gap. Ether similarly dropped to $2,300 from $2,460. Weekend volatility stemmed from Hormuz Strait shipping halt, pushing crude oil from $78 to $88 per barrel, pressuring risk assets including stock futures.

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