The latest U.S. June nonfarm payroll data fell far short of market expectations, significantly reducing the likelihood of further rate hikes by the Federal Reserve. Market expectations for rate cuts have quickly heated up, directly driving a broad rally in global risk assets. The cryptocurrency market has seen a general uptrend, with Bitcoin rising over 5% in a single day, stabilizing back above the $62k mark. Ethereum gained over 7%, SOL surged nearly 9%, and smaller tokens also followed suit. Overseas listed crypto companies like Coinbase and Circle saw their stock prices rise as well.

Amid the rapid price surge, long-short battles have intensified. According to trading data, nearly 130k traders globally experienced forced liquidations in the past 24 hours, with total liquidation amounts reaching as high as $490 million. The majority of liquidations were short positions, with short-term leveraged trading risks concentrated and released. $BTC $ETH #预测世界杯葡萄牙VS克罗地亚