Big macro headwinds hit! Key crypto market highlights for today

⚠️Risk warning: The information is for reference only and does not constitute trading advice

1、Macroeconomic major news
The seven biggest US tech giants were hit by a sell-off wave, with total market value evaporating $797B in a single day, marking the largest drop since April 2025. Concerns over high AI spending and investment have pressured the sector, with Tesla plunging more than 14%. Bitcoin’s resilience stands out: price remained stable around $65k. Ethereum also came under pressure, slipping back into the $1,856 range, with short-term trend looking weak. Combined with Trump’s plan to change the legal basis and impose 10%-12.5% tariffs on 60 trade partners, inflation expectations have warmed; the market worries the Federal Reserve may delay rate cuts, putting overall risk assets under strain.

2、Main market data
BTC is stuck in a tug-of-war range of 64,800-65,800, with increased divergence between bulls and bears. ETH broke below multiple short-term moving averages; $1,826 is a key trend support level—once it’s lost, downside room may open. The Crypto Fear and Greed Index has fallen into the Fear zone, and traders’ appetite to chase longs has clearly cooled.

3、Sector hotspot: HYPE
Hyperliquid’s native token HYPE is consolidating around $58.5. On-chain data shows that multiple whales have collectively staked more than $260 million worth of HYPE. Market disagreement is intensifying: the ratio of large holders leaning long vs. short is balanced, with no extreme one-way trend, and volatility risk continues to rise.

4、Industry news
Progress on the US “CLARITY Digital Assets Bill,” which the market had been expecting, has been stalled; the probability of passage within the year has fallen, and long-term regulatory uncertainty continues to suppress upside potential for the crypto market. Bitcoin spot ETFs saw temporary capital returning, but inflow strength is weak, making it hard to drive a fresh surge.

5、Trading reference ideas
With macro uncertainty rising, don’t bet on direction early. Consider reducing position size, lowering leverage, and waiting for policies to land and the market to break into a clearly defined range before setting up trades. Stay alert for cross-market panic sentiment spreading.
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