Following the latest PPI (Producer Price Index) data, cryptocurrency markets have seen a drop, with significant liquidations totaling over $1.1 billion. The U.S. government continues to accumulate Bitcoin, estimated at around $24 billion. In legislative news, U.S. Senator Cynthia Lummis is reintroducing the Bitcoin Act. Meanwhile, altcoins are facing challenges, as Ethereum prepares for a potential $3.2 billion worth of ETH leaving staking. Google has made headlines by acquiring an 8% stake in BTC miner TeraWulf, while discussions around the Crypto Project are set to unfold. Additionally, U.S. sanctions have impacted Russian exchange Garantex. Overall, the market reflects a tumultuous period with fluctuating prices and regulatory updates, alongside potential shifts in institutional involvement.

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