The cryptocurrency market has experienced significant turbulence as the Depository Trust & Clearing Corporation (DTCC) announced a major policy change, stating that starting next Tuesday, all cryptocurrency investments, including Bitcoin ETFs and other spot products, will receive a 100% haircut, effectively removing their ability to be used as collateral. This decision could potentially reduce liquidity and increase risk for investors. Concurrently, the crypto market saw substantial liquidations, totaling $211.15 million in 24 hours, involving 92,306 traders. The majority of these were long positions worth $178 million, compared to $31 million in short positions. Bitcoin's price notably fell below $64,000, contributing to $44 million in Bitcoin liquidations and $42 million in Ethereum liquidations.