On April 7, 2025, Bitcoin fell below $74,000, marking a new low since November 2024 and triggering a chain reaction in the cryptocurrency market and global financial markets. The U.S. stock market recently experienced its largest single-day decline in four years, with over $2.85 trillion in market value evaporating, and a wave of risk asset sell-offs impacting the crypto market. Investors are retreating from high-risk assets due to a flight to safety, with Bitcoin, as a highly volatile asset, being the most affected. The probability of falling below $70,000 is high, and if miner sell-offs and negative policy factors coincide, it may drop to $65,000.