Bitcoin has fallen below the $100,000 mark, plummeting 6.2% in the last 24 hours, and even Ethereum has dropped over 10%.

What's even scarier is the data from Coinglass: 342,000 people were liquidated! $1.3 billion evaporated, with 85% being bullish positions. A netizen shared a screenshot showing over 1.89 million positions cleared in just a few minutes; this bloodbath is too severe. This is not a random crash; it’s a combination of four fatal factors:

The Federal Reserve pours cold water: the interest rate cut dream is shattered!

Bitcoin has long been at the mercy of the Federal Reserve, which just cut rates last week. Everyone was hoping for more easing in December, but Powell directly said not to assume there will be more rate cuts, causing the probability of a December cut to drop from nearly 100% to 60%. The strengthening dollar + the U.S. government shutdown for 33 days has made it impossible to release economic data. Who dares to enter the market? Risk assets are being sold off first.

Institutions fleeing overnight: $4.8 billion withdrawn!

The market, which was originally supported by institutions, now sees giants cashing out. Bitcoin spot ETFs have seen $607 million flowing out in just a week, and since February this year, $4.8 billion has left! Top institutions like BlackRock and Fidelity are all withdrawing, and the premium on Bitcoin on Coinbase has turned negative; the institutions are voting with their feet.

Technical indicators flash red: the death cross has arrived!

Those in the know understand how deadly a death cross can be; the 50-day moving average has crossed below the 200-day moving average, with short-term downward pressure exceeding the long-term upward trend. Both $110,000 and the 200-day moving average have been breached; now it’s a matter of whether $100,000 can hold, which is a "line of faith" for many. If it breaks, it may trigger even crazier sell-offs.

Hackers strike: $12 million stolen, shaking confidence!

The Balancer protocol was suddenly hacked for $12 million, prompting multiple platforms to freeze accounts urgently. The entire cryptocurrency circle is in panic; everyone was already afraid of technical vulnerabilities, and at this moment, who wouldn’t rush to sell to avoid risks? Even MicroStrategy, a stock associated with Bitcoin faith, has fallen by 1.8%.

Now the fear and greed index has dropped to the extreme fear zone, with some calling for a bull market turnaround while others fear a drop below $90,000. I sincerely advise everyone not to blindly bottom fish; this wave is a combination of multiple bearish factors. Wait for stability before making any moves! #加密市场回调 #巨鲸动向 #加密市场观察 #十月加密行情 #ETH巨鲸增持 $BTC $ETH $BNB