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Today's cryptocurrency market has seen a significant downturn, with major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) experiencing substantial price drops. Here is an analysis of the main reasons behind this crash:
Today's opening of the U.S. stock market was marked by a decline, with the Nasdaq index already entering a bear market. The drop in stocks inevitably pulls the cryptocurrency market down as well, given their deep interlinkage. Bitcoin (BTC), in particular, had not followed the decline during Powell's speech when stocks fell previously. This current drop can be seen as a belated response to that earlier decline.
The ongoing impact of Trump's reciprocal tariff policy is still being felt, and its implementation is drawing nearer. This policy has heightened global market uncertainties, causing investors to shy away from risk assets. Cryptocurrencies, being highly volatile assets, naturally become targets for liquidation.
The current market situation shows no significant inflow of funds but rather a period of consolidation. The longer the market stays in this horizontal range, the more likely it is to experience a substantial drop. Therefore, traders holding long positions need to be extra cautious.
In the past 24 hours, a total of 286,600 people have been liquidated globally, with a total liquidation amount of $877 million. The decline in Bitcoin has triggered a wave of long-position liquidations, further exacerbating market panic and price drops, dragging the entire crypto market into a slump.
Maintain a Short Position: In the current market environment, it is advisable for investors to keep a short position and avoid entering the market blindly. Doing so at this time is akin to throwing money away, with a success rate of no more than 30%.
Focus on Quality Projects: In the realm of public blockchains, many chains with high market capitalizations actually have very low trading volumes, which does not match their market value. Investors can pay attention to public blockchain projects that truly offer high performance and low interaction costs, such as $SUI.
Risk Control and Stop Loss: Reasonably control your positions and set stop-loss points to prevent further losses.
Bitcoin (BTC): Today's price is US$78,449.39, with a 24-hour trading volume of US$42,584,909,065. The price has dropped by -5.88% over the past 24 hours and by -4.18% over the past 7 days.
Ethereum (ETH): Today's price is US$1,575.21, with a 24-hour trading volume of US$25,900,622,413. The price has dropped by -12.73% over the past 24 hours and by -12.97% over the past 7 days.
Ripple (XRP): Today's price is US$1.90, with a 24-hour trading volume of US$5,154,306,466. The price has dropped by -10.91% over the past 24 hours and by -9.88% over the past 7 days.
Despite the current market gloom, high-performance public blockchain projects like $SUI still hold potential. The development of blockchain technology requires high-performance, low-cost public chains to expand user groups, especially in the fields of social media and gaming. Investor
