【Cryptocurrency Market】
【GM☀—Friday—10.21】
#二级 All gains within the year have been wiped out!
The cryptocurrency market is declining, with a total market value of approximately $2.98 trillion, down 1.79% in 24 hours, and a trading volume of $21.215 billion.
Bitcoin (BTC) is approximately $87,453, down 3.18%; Ethereum (ETH) is approximately $2,795, down 3.35%. Major coins are declining, with a fear and greed index of 15 (extreme fear).
Why the sudden drop: The Federal Reserve's hawkish remarks reduce the probability of a rate cut in December (to 69%), triggering liquidity concerns and ETF outflows; leverage liquidation exceeds $250 million, combined with profit-taking, wiping out hundreds of billions in market value.
Trend: Short-term bear market decline, BTC testing the $85,000 support, possibly oversold rebound
