The cryptocurrency market has recently continued its correction trend, with Bitcoin breaking below the $90,000 support level and trending downward, while mainstream coins follow the pressure.

In terms of market performance, Bitcoin fell 2.95% from the previous trading day to $89,831.81. Ethereum experienced a deeper decline, dropping 4.49% to $3,103.15. Ripple, Solana, Dogecoin, and Cardano all declined, with decreases of -6.63%, -2.78%, -3.62%, and -4.49% respectively, while TRON (TRX) bucked the trend with a slight increase of 0.55%. The total market capitalization retreated to $3.0787 trillion, with Bitcoin accounting for 58.29% and Ethereum for 12.17%.

Trading activity has significantly decreased. The 24-hour total trading volume dropped to $108.8 billion, with the DeFi sector trading volume at $14.031 billion (down 9.74% month-over-month), stablecoin trading volume at $106.949 billion (down 19.12%), and derivatives trading volume approximately $11.371 trillion (shrinking 15.77%), indicating a contraction across major sectors.

In terms of liquidations, a total of $128.27 million in leveraged positions were liquidated, with 97.51% being long positions. The liquidation pressure was mainly concentrated on Hyperliquid ($37.85 million), a leading exchange ($27.52 million), and a derivatives platform ($25.08 million). Bitcoin and Ethereum experienced maximum liquidation impacts of $118.08 million and $106.72 million respectively.