【Market Shock! Bitcoin Drops Below 104,000, Memecoin Loses 10 Billion, June Crisis Fully Erupts?】
Today, the cryptocurrency market is facing a wave of sharp declines!
Bitcoin fell over 2%, hitting a low of 103,700 USDT
Solana -6.3%, SUI -7.8%, AVAX -7.3%
Memecoins' market value evaporated by 10 billion in a week, reaching the lowest level since May 9
The culprit behind this: Beautiful Country is once again wielding the 'tariff big stick', igniting global market panic!
Trump blasts the China tariff agreement, with the Treasury Secretary claiming negotiations are 'at a standstill'
China responds harshly: demands 'immediate correction of erroneous practices'
Bitcoin is facing numerous technical crises
A death cross is imminent; if it falls below 104,584 USDT, it may plunge straight to 100,694 USDT
Bulls can only reverse the trend if they hold above 106,726 USDT
Liquidation amounts exceed 800 million USD, the panic index drops to 69, and market sentiment shifts drastically
The trigger was -- over 11.4 billion USD in BTC/ETH options expired yesterday, leading to a full-blown leverage squeeze
Bitcoin open interest plummeted by 3.7 billion, with over 217,000 traders suffering losses!
But if we calm down, we also see:
Data shows that the current profit-taking pressure is relatively mild
The market has not entered a phase of frantic selling, and there is still potential for upward movement
If BTC falls below 100,000, 96,000 USDT will become a crucial bottom-fishing point for institutions
Altcoin Sherpa analysis: BTC currently has strong support, the 102,000-104,500 range may become a strong rebound springboard, and hitting 107,000 is not a dream!
What do you think about this round of decline? Is it a cleansing before the storm of doom, or the last drop before the golden pit?
Share your thoughts in the comments section, and forward to all the brothers still in the market!
