Affected by the escalation of Middle Eastern geopolitical conflicts, the cryptocurrency market experienced short-term volatility and weakness, with BTC falling back to around 68,500, and ETH adjusting accordingly, leading to a liquidation of long positions across the network.

On the macro front, strong non-farm payroll data combined with inflation expectations have further delayed rate cut expectations, putting pressure on risk assets generally.

Short-term market volatility has intensified, with geopolitical situation remaining the key variable. It is recommended to strictly control leverage, adopt a cautious approach with more observation and less action, and be cautious about chasing highs.