Crypto Market Rally Interrupted by Department of Justice Investigation into Tether

In a surprising turn of events, the cryptocurrency market experienced a significant downturn following reports of a Department of Justice (DOJ) investigation into Tether, a prominent stablecoin issuer. Earlier in the trading session, bitcoin (BTC) was on an upward trajectory, approaching the $69,000 mark and seemingly gearing up for a potential breakthrough above $70,000 for the first time in three months. However, shortly after the news broke regarding Tether, bitcoin's price plummeted to around $66,500, reflecting a nearly 2% decline over the past 24 hours. Fortunately, it managed to recover slightly, stabilizing at approximately $66,800. The broader cryptocurrency market, as measured by the CoinDesk 20 Index, also faced a decline, dropping by 2.3% during the same period. This investigation into Tether raises concerns among investors, potentially impacting market sentiment and future price movements.