#加密市场行情震荡 Recent volatility in the crypto market has been primarily driven by the combined effects of macro geopolitical risks and the unwinding of leveraged positions.

📉 Core macro pressures: Japan's interest rate hikes and oil price shocks

Market sentiment is currently in a “panic mode” (the fear and greed index has dropped to 39), mainly due to the following two points:

· Expectations of Japan's rate hikes: Japan's latest inflation data exceeded expectations, leading the market to bet that the Bank of Japan may raise interest rates. If the yen strengthens, it could trigger a wave of risk asset “carry trade” unwinding worldwide.
· Geopolitical conflict impact: The situation in Iran has disrupted shipping through the Strait of Hormuz, with oil prices rising over 40% (to $96 per barrel). High oil prices intensify inflation concerns and limit the Federal Reserve's room to cut rates.

📊 Market Data Overview

As of Friday (April 24), the market showed clear volatility and divergence:

· BTC: Fluctuated widely between $77,000 and $78,000. It briefly fell below $77,000 in the early hours, then rebounded near $78,000, with the upward momentum noticeably slowing compared to Wednesday.
· ETH: Performed weaker than Bitcoin, falling below the key support level of $2,300.
· Liquidation data: In the past 24 hours, approximately $588 million was liquidated across the entire network, with nearly 68% of liquidations being long positions, indicating a round of leverage unwinding.
· Sector movements: Meme tokens rose against the trend by 1.23%, and the NFT sector has been strong for three consecutive days, showing some active funds are still seeking opportunities.

💡 Recent Focus Points

· Key levels: The resistance zone above $79,000 - $80,000 is strong, while $77,000 is a short-term support level.
· Capital flow: Although prices are volatile, spot ETF inflows continue to be net positive, indicating institutional funds are still entering the market and providing some downside support.