When I woke up this morning, it was already at 71,000, its lowest level in three months.

As of 7:30, BTC was around 71,400, down about 3.5% on the day, with a low of 71,317; ETH briefly fell below 2,000, hitting a low of 1,983. Liquidations totaled $727 million over 24 hours, wiping out 125,000 traders, 90% of them long positions (all figures from CoinGlass).

The rapid drop is tied to two things. First, Nvidia had a major personnel shake-up, sending its stock down more than 13% at one point during the session and dragging down the broader AI sector; second, money has kept flowing out: U.S. spot BTC ETFs saw net outflows of about $2 billion over three weeks, while Ethereum products have seen outflows for a seventh consecutive week.

Technically, the bigger concern is that the 200-day moving average has broken. Once that level gives way, the next level everyone is watching is around 68,000.

Are you planning to make a move today? #美国就业数据今晚公布