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#24h加密合约清算破4亿美元 The crypto world today presents a dramatic contrast: Trump publicly announced 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 spread, the market not only failed to strengthen but instead entered a series of sell-offs, with Bitcoin falling for three consecutive days, directly breaking through previous key support levels, leading to collective long liquidation and panic selling, sweeping through the entire crypto market.
Bitcoin plummeted sharply, support completely broken, heading directly toward the 70,000 level
The previously tested support level of $74,480 was completely lost today, with Bitcoin’s price dropping below $73,000. The three-day decline shows no signs of stopping, fully confirming the previous technical bearish outlook.
A wave of liquidations hits the entire network, with longs losing 700 million dollars
Following Trump’s positive remarks, the market suddenly experienced a large-scale liquidation event, with total liquidations in 24 hours reaching $700 million, of which long positions accounted for $647 million, over 90%. Large-scale forced closures of long positions further pushed down the price, with the market now 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 media:
1. Claiming the U.S. will create a new global crypto center and support digital asset entrepreneurs; 2. Promoting the “Digital Asset Market Transparency Act” and the “CLARITY Act” to improve industry regulation;
3. The bills require 60 votes in the Senate and are still awaiting full voting, with significant uncertainty about short-term implementation.
The core reason for “positive news leading to selling”:
1. Expectations of policy easing had already been priced in early, and after the official announcement, funds exited;
2. The bills have high voting thresholds, 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, and the news triggered a concentrated liquidation reshuffle;
4. Trump’s previous fluctuating stance on crypto policies has kept the market cautious about his promises.
In the short term, the overall market remains weak with oscillating movements, and rebounds are merely opportunities for bearish correction. Until a significant stabilization and recovery of key resistance moving averages occur, the overall adjustment cycle will not end. A new rally will require clear bottom signals to be fully confirmed. Therefore, it’s best to adopt a cautious, watchful approach and trade less. $BTC
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