#加密市场回调 : Recent News Highlights in the Last 24 Hours

In the past 24 hours, the cryptocurrency market has experienced a significant pullback, drawing investor attention. Here are the key developments:

1. Bitcoin Falls Below Key Support

X user @ZebinHita reports that Bitcoin has dropped to $95,500, increasing market liquidation risks. If it falls below $95,000, the scale of long position liquidations could reach $620 million. The pullback is related to regulatory uncertainties and macroeconomic pressures.

2. Market Capitalization Shrinks

CoinGecko data shows that the total market capitalization of the cryptocurrency market has fallen by 3.7% to $3.25 trillion, with altcoin market capitalization dropping to $1.18 trillion. The aftershocks of the Bybit hacking incident have impacted market confidence, despite its promise of full refunds.

3. Technical Analysis and Sentiment

After Bitcoin fell below $97,000, it showed weakness, with $93,000 being the next key support. Traders on the X platform believe the pullback may present a long-term investment opportunity, but caution is advised regarding liquidation risks. BitMEX founder Arthur Hayes predicts Bitcoin will reach $1 million by 2028.

4. Other Currencies and Data

Major cryptocurrencies like Ethereum have also declined, with stablecoin trading volume accounting for 93.48%, indicating a risk-off sentiment. OKLink data reveals an increase in ETH whale transfers, possibly indicating bottom fishing.

5. Investment Advice

Exercise caution in the short term, monitor the $95,000 support level and regulatory developments. Long-term investors may view the pullback as an opportunity, but risk diversification is essential. Bitcoin exchange balances have dropped to a five-year low, suggesting a trend towards long-term holding.