What happened on the crypto market this weekend?

• Bitcoin fell below $69,000 after Trump's threat to "destroy" Iranian oil refineries if the Strait of Hormuz was not reopened
• Gold continued its decline to $4,350, erasing over $1 trillion in market capitalization in three hours after its worst weekly drop in 43 years
• U.S. stock market capitalization lost approximately $1 trillion on Friday, with the S&P 500 reaching its lowest level of the year
• Brent oil price reached $114, its highest level in 4 years
• Grayscale filed with the SEC for a new ETF named "Grayscale HYPE ETF"
• The Financial Services Committee will hold a hearing on tokenization and the future of capital markets on March 25
• Senator Cynthia Lummis advocated for the CLARITY Act to make the United States the global capital of digital assets
• Robinhood CEO Vlad Tenev called on Congress to authorize yield on stablecoins
• Michael Saylor hinted at a new Bitcoin purchase by stating: "The orange march continues"
• CZ affirmed that "Bitcoin is a tangible asset"
• Brian Armstrong estimated that Bitcoin will help preserve U.S. dollar dominance
• Bitmine reached 76% of its goal to own 5% of Ethereum's supply
• Resolv Labs' USR stablecoin lost its peg to the dollar following a hack of 80 million tokens
• CoinDCX cofounders were arrested in India for breach of trust
• A British committee recommends banning cryptocurrency political donations
• Bitcoin mining difficulty dropped 7.7%, its steepest decline since February
• U.S. 12-month inflation expectations climbed to 5.2%
• Odds of a Fed rate hike in 2026 rose to 25% according to Polymarket