交易员大海哥

In the early hours of today, the cryptocurrency market plummeted. The number of liquidations reached 430,000, with a liquidation amount of 2.6 billion dollars. It once dropped below 75,500 dollars. This is the lowest point since April 2025. It has fallen 30% from the peak in October of last year. Even worse, it directly dropped from a recent high of 3,000 dollars to 2,250 dollars. Other altcoins are even worse. Many people's accounts have gone to zero. The entire cryptocurrency market evaporated about 111 billion dollars in market value in a single day, and the market fell into a state of mass panic selling.
This crash is not caused by a single factor; five key factors overlapped and amplified each other at the same time, creating a collapse effect that swept through the entire market, all of which are indispensable:

In the early morning, Bitcoin led a decline in the blockchain market, with Bitcoin falling below $60,000 and Ethereum dropping below $1,800.

Brother Ocean summarized the following reasons for the blockchain crash.
First, there is the reversal of macro liquidity: the Federal Reserve continues to tighten monetary policy, high interest rates increase the holding costs of Bitcoin, the dollar strengthens, global economic expectations are downgraded, and risk appetite decreases, leading to a flow of funds back to low-risk assets.
Secondly, there is regulatory impact: global strict regulation raises compliance costs, impacting DeFi and exchange businesses, and lowering institutional willingness to enter the market.
Again, there are market structural flaws: high leverage in a bull market leads to a chain of liquidations, panic drains liquidity, the correlation between Bitcoin and traditional finance increases, and its safe-haven attributes weaken.