Market Overview

• The price of Bitcoin has returned to around $107,793, recording a decrease of 3.24% over the past 24 hours, which is approximately 14% lower than its recent peak of $126,198.

• The trading volume over the past 24 hours reached $36.4 billion, while the market capitalization of Bitcoin stood at $2.13 trillion.

• Market sentiment has shifted to "fear," as the fear and greed index in the cryptocurrency market dropped to 27, a level that has historically indicated market bottoms.

• Despite the price decline, Bitcoin's dominance in the market remains high at **58.8%**, indicating a shift of investors towards safety as capital moves from alternative coins to Bitcoin amid uncertainty.

Key Fundamental Factors

• Geopolitical tensions: Renewed trade tensions between the United States and China, including a proposal to impose a 100% tariff on Chinese imports, have been identified as a significant macro factor contributing to the current downturn, creating a state of uncertainty in financial markets.

• Liquidation of highly leveraged positions: The liquidation of leveraged positions in the futures market has deepened the decline, with the total value of liquidations exceeding $19 billion during a 24-hour trading period.

• ** realization of profits by long-term holders:**