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In the past 24 hours, the crypto market has arranged a wave of "deep washing" for the brothers, with a familiar smell of retail investors permeating the entire network. The market cap has lost hundreds of billions in a day, now swaying around 2.45 trillion. The reasons are not complicated: large funds are also hesitant in the US tech stocks, the macro situation is very confusing, plus a few whale accounts are secretly dumping, causing the entire market to enter a "survive" mode.
Bitcoin (BTC) barely hangs between 72,000 and 73,000, dipping as low as 71,800, with a daily drop of over 4 points. The miners are worse off, with mining machines buzzing and coin prices plummeting, and this weekend the mining difficulty is set to drop by 14%, truly adding insult to injury. Interestingly, the fear index has surged to its highest point since 2026 — veteran investors understand that at such times, a rebound is often not far away.
Ethereum (ETH) is even worse, dropping over 5%, unable to hold 2,200, and is about to test the support at 2,100. A few days ago, Vitalik Buterin even added a dollar, saying that many Layer 2 chains have lost their "presence" due to very low transaction fees, causing various doubts within the community. The ETF has seen some small net inflows, but this amount is currently a drop in the bucket.
Other mainstream coins are even more tragic: SOL down 8%, XRP down 7-8%, and BNB is also nearing 8%. The most exciting part is the liquidation leaderboard — over the past 24 hours, the entire network has seen liquidation of 700 million to 2.5 billion dollars (data varies across platforms), with many long positions being buried and howling. There are a few highlights, such as the $HYPE coin, which surprisingly surged over 70%, only proving that the worse the market, the more hype the meme coins seem to attract.
On a macro level, there is no good news. The US Treasury Secretary directly stated, "Don't expect banks to save Bitcoin," geopolitical tensions are rising, and market liquidity is drying up. This phase is all about "de-leveraging + waiting", focusing on whether Bitcoin can hold 71,000 to 72,000, and whether there are institutions secretly picking up cheap chips.
To summarize: the market is still in a weak oscillation, but when fear reaches its peak, a reversal is often brewing. Everyone should hold back, don't get carried away with positions, and wait for clear signals to act! #加密市场急跌 {future}(ETHUSDT)
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This wave of decline has lasted longer and deeper than most people expected. Many people did not misjudge the direction, but underestimated the time dimension, resulting in being slowly cut down.
At this point, I tend to: 👉 Trade less 👉 Wait for extremes 👉 Capture key levels This is actually more likely to outperform most people. #BTC何时反弹? #贵金属巨震
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$SOL $BTC $XRP #BTC何时反弹? #美国PPI数据高于预期 #韭菜的恐慌出貨 CZ English AMA Quick Overview|Bull Market Views, Positioning Strategies, and Major Feature Preview CZ's AMA live stream targeting the English community directly addresses core market concerns, responds to FUD controversies, clarifies holdings and market judgments, while also releasing new platform features and exclusive benefits for the Chinese community. The core points are as follows: Regarding the market and holdings, influenced by macroeconomic uncertainties and market FUD, confidence in the bull market has declined, and holdings remain conservative, with a major focus on BTC and BNB, holding a small amount of $ASTER, not participating in high-frequency trading, and not chasing AI concept tokens. Future tracks focus on the integration of cryptocurrency + AI + biotechnology, with optimism about the opportunities for the latter two to merge with blockchain. In facing FUD, it clearly denies manipulating the market crash in October 2023, emphasizing that Bitcoin's market cap exceeding 2 trillion cannot be controlled by a single entity; clarifies that the 92 billion net assets are estimates of virtual assets, not liquid assets, and that it has never sold user assets or engaged in large-scale sell-offs. The platform has fully compensated users for previous minor system issues, and states that much of the market FUD comes from competitors, shifting blame to users and opportunistic claimants. In terms of products, the Alpha platform is the entry point for DeFi, with no promises of sky-high returns or profits; the initial purpose of the Meme Rush feature was to curb meme coin scams, and its effectiveness is still being optimized; live stream rewards are fully donated to the Giggle Academy education project, not attributed to individuals. Regarding platform upgrades, this live stream is a pressure test after updates, and any lag will be optimized; the reward leaderboard and online user statistics are clearly displayed. Major benefits are coming: a real-time language translation feature will soon be launched, breaking down the language barrier for English AMAs; next month, a CZ exclusive Chinese AMA live stream will start, bringing exclusive communication opportunities for Chinese users. Overall, CZ's AMA this time candidly responds to controversies, with platform upgrades and a preview of the Chinese AMA injecting confidence into the community and allowing Chinese users to feel special attention.
Bitcoin's pullback intensifies, Michael Saylor's Strategy faces a huge unrealized loss test
As Bitcoin's price falls below $75,000, the sentiment in the crypto market has clearly turned cold. Recent data shows that Strategy (formerly MicroStrategy), led by Michael Saylor, is bearing more than $900 million in unrealized losses, attracting widespread attention in the market. During this round of decline, this company, known for its 'Bitcoin strategy,' once again stands at the intersection of public opinion and cyclical fluctuations.
As of now, Strategy holds approximately 712,647 BTC, making it one of the publicly listed companies with the largest amount of Bitcoin in the world. This position size has amplified its asset resilience during a bull market, but during a pullback phase, it inevitably magnifies the book volatility. Although the unrealized loss figure looks staggering, it is important to emphasize that these losses are not yet realized, provided that the company has not sold the relevant holdings.
From a historical perspective, Saylor's attitude towards Bitcoin has remained consistently high: long-term holding, ignoring short-term price fluctuations. He has publicly stated multiple times that the company evaluates Bitcoin not based on quarterly profit and loss but sees it as a long-term store of value and an anti-inflation tool. Therefore, the current book loss is more of an accounting pressure rather than a strategic wobble.
In the market, this decline has combined with macro uncertainties, risk-averse capital sentiment, and concentrated liquidation of high-leverage positions, creating a short-term impact on high-position institutions. However, at the same time, some investors believe that this pullback instead reaffirms Strategy's 'high volatility, high conviction' approach — either endure the cycle or miss the cycle.
Overall, what Strategy currently faces is not a question of 'failure' but a test of 'whether it can continue to endure volatility.' Until the long-term narrative of Bitcoin is broken, Michael Saylor's strategy will remain one of the most controversial and symbolically significant presences in the crypto market.