The crypto market is seeing a sharp pullback as the total market capitalization has slipped about 2.5% to roughly $3.8 trillion, with Bitcoin (BTC) price down close to 2% at $111,800 and Ethereum (ETH) off more than 4% to trade below $4,000.  A mix of macro pressure, heavy derivatives unwinding, and profit-taking ahead of regulatory hearings are all weighing on prices.