Bitcoin's Volatility Continues Amidst Regulatory Uncertainty and Market Turmoil.

Bitcoin's decline below $28K is attributed to US regulatory woes and market liquidity heavily tilted towards Asia, according to Mark Connors, head of research at Canadian crypto asset manager 3iQ. Meanwhile, the European Parliament has passed the Markets in Crypto-Assets (MiCA) regulatory framework and a separate crypto-related rule known as the Transfer of Funds regulation, providing a comprehensive set of rules for crypto companies operating in the 27-nation strong trading bloc. The US, on the other hand, remains disjointed and counterproductive in its regulatory efforts, causing market volatility and prompting regulatory reboots by many players.