#24h加密合约清算破4亿美元 The crypto world today staged an extreme contrast drama: Trump publicly expressed full support for the cryptocurrency industry, promising not to disappoint practitioners, and called on the U.S. to become a global digital asset hub, pushing for the implementation of compliant legislation. However, after the news fermented, the market not only failed to strengthen but instead entered a series of sell-off modes, with Bitcoin falling for three consecutive days, directly breaking through previous key support levels, causing collective long liquidation and踩踏, and panic sentiment sweeping through the entire crypto market.

Bitcoin plummeted sharply, support completely broken, directly targeting the 70,000 level
The previously tested support level of $74,480 was completely lost today, with Bitcoin price dropping below $73,000. The three-day decline shows no signs of stopping, fully confirming the previous technical bearish outlook.

A wave of liquidation hits the entire network, with longs losing 700 million dollars
After Trump’s positive remarks, the market suddenly experienced a large-scale liquidation event, with total market liquidations reaching $700 million within 24 hours, of which long positions accounted for $647 million, over 90%. Large-scale forced liquidation of long positions further pushed down the price, with the market now entirely dominated by sellers, and selling pressure continuously releasing.

Why does positive news cause a sell-off?
On Thursday, Trump released multiple industry benefits on social platforms:
1. Claiming the U.S. will create a new global crypto center, supporting digital asset entrepreneurs;
2. Promoting the “Digital Asset Market Transparency Act” and “CLARITY Act” to improve industry regulation framework;
3. The bills require 60 votes in the Senate and are still awaiting full voting, with great uncertainty about short-term implementation.

The core reason for “positive news being sold upon landing”:
1. The expectation of loose policies was already overhyped earlier; after the official announcement, funds cashed out;
2. The bill’s voting threshold is high, with no substantial compliance benefits in the short term, leading to unmet expectations;
3. The market itself has accumulated a large amount of long profit-taking, using the news to complete concentrated liquidation and reshuffling;
4. Trump’s past fluctuating stance on crypto policies keeps the market cautious about his promises.

In the short term, the overall market mainly oscillates weakly, with rebounds being opportunities for short-term correction. Until a significant stabilization and recovery of key pressure moving averages occur, the overall adjustment cycle will not end. A new rally requires full confirmation of bottom signals. Therefore, it’s best to watch more and act less. $BTC