📉On May 28th midday (nearly 8 hours), the entire crypto market collapsed: Bitcoin plummeted 3.5% to $72,988, Ethereum dropped 4.7%, and altcoins like ZEC, HYPE fell over 5%.

A total of 167k people were liquidated across the network, with total liquidation amount reaching $935 million, and the largest single liquidation exceeding $15 million.

🔥Core reasons for the crash

1. Outbreak of Middle East geopolitical crisis: The US-Iran conflict escalated, US military airstrikes on Iran’s Abadan port, Iran retaliated, and the Strait of Hormuz situation became tense, causing a sharp decline in global risk appetite.

2. Frenzied capital flight: Continuous large net outflows from the US spot Bitcoin ETF, totaling over $2 billion this month, with institutional funds accelerating their withdrawal.

3. Spread of panic sentiment: The market fear index dropped to 33, entering extreme panic territory, with stampede-like selling intensifying the decline.

🌍International crypto-related events in the past 8 hours

• ✅Confirmed US-Iran conflict, military confrontation between both sides triggered turbulence in global financial markets, and the safe-haven narrative for crypto assets failed.

• ✅The US White House denied the US-Iran ceasefire agreement, claiming the related documents are “pure fabrications,” further worsening the situation.

• ✅ETF fund outflows continued for several days, market liquidity dried up, and crypto price volatility increased. #24h加密合约清算破4亿美元 $ETH