Just as HTX was about to delist Trump-related USD1, the behind-the-scenes action is that World Liberty Financial has frozen HTX-related addresses. This is not just an ordinary negative news; it’s the “permission trust” that the stablecoin sector fears most being brought to the forefront.

What’s even more eye-catching is that American banks are still promoting tokenized deposit networks, indicating that compliant funds have not left on-chain finance, but are shifting chips from grassroots stablecoins into the banking system.
$BTC The marked price is $62,383, $ETH The marked price is $1,624, while the market has evaporated about $390 billion. This scale of loss indicates that the pressure is not due to a single project’s collapse but a synchronized risk reduction across the entire market.
$BTC Open interest remaining contracts are $6.34 billion, long positions account for 66%, and the order book ratio is 0.99, meaning positions are still heavy and leaning bullish, but active buy orders have not truly overwhelmed sell orders; if the long position ratio drops below 50% or the order book ratio rises above 1.1, the logic of “waiting for short squeeze in a weak trend” will need to be reconsidered. #MarketObservation
Assisted by Claude Opus 4.8 model; this is not investment advice, please make independent judgments.