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Yesterday, the cryptocurrency market experienced significant volatility. Bitcoin once plummeted by over 13%, hitting a near 16-month low, before rebounding strongly by over 10% today, returning to around $70,000. Ethereum and other major tokens also followed suit.
📉 Key Information on Yesterday's Crash
· Bitcoin Low: Approximately $59,800 - $61,000
· Market Impact: Over 570,000 positions liquidated within 24 hours, totaling over $2.6 billion
· Direct Trigger: Widespread market panic, leading to a sell-off of high-risk assets; concentrated liquidation of leveraged positions exacerbated the decline.
📈 Key Observations on Today's Rebound
· Rebound High: Bitcoin rebounded to approximately $69,778 - $71,469
· Market Views: Some analysts believe the crash was driven by structural deleveraging, with technical support appearing at $60,000; others warn that the rebound may be a "dead cat bounce," with no clear trend reversal.
· Subsequent Focus: Can Bitcoin hold the key psychological level of $60,000?
💎 Summary This market movement exhibited a typical "panic selling - technical rebound" pattern. Market volatility has increased sharply, indicating extremely sensitive investor sentiment. Short-term price movements may continue to fluctuate, requiring close monitoring of macroeconomic sentiment and the defense of key price levels.
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Guiding the way relies on noble souls; walking the path depends on oneself. Growth comes through experience; to help others cross, first cross yourself.#BTC