📉 Today, the cryptocurrency market has experienced significant volatility, with major cryptocurrencies generally facing a fall, primarily as a result of regulatory news, internal market leverage, and overall sentiment.

🏛️ Regulatory news raises concerns

The International Organization of Securities Commissions (IOSCO) has released a report, reminding investors to be aware of the new risks that "tokenized" assets linked to traditional financial assets may bring. The voices of such global regulatory agencies have influenced market sentiment, triggering some sell-offs.

⚖️ High leverage leads to a chain liquidation

Market fluctuations have led to large-scale liquidations of high-leverage positions. In the past 24 hours, nearly 150,000 people were liquidated in the cryptocurrency market, with a total liquidation amount reaching $506 million, most of which were long positions. This forced liquidation behavior will further amplify the price decline.

😨 Market sentiment remains weak

Despite the positive news about the U.S. government ending the shutdown, the rebound in the cryptocurrency market is clearly insufficient, indicating that market confidence has not fully recovered. The price of Bitcoin is currently suppressed below the critical 200-day moving average (around $110,000), which is one of the technical reasons for the cautious market sentiment.

I hope the above interpretation can help you understand the market dynamics. Please note that the above information does not constitute any investment advice.