《A Group of Unfamiliar Young People Came to the Electronics Factory, and the Blockchain Lacks a Group of Powerful Figures》
Today, the cryptocurrency market experienced a significant pullback, primarily due to:
1. Escalating global trade tensions: On April 2nd, U.S. President Trump signed an executive order imposing a 10% 'minimum benchmark tariff' on trade partners, with some countries facing rates as high as 49%, triggering panic in global markets and leading investors to sell off risk assets.
2. Deteriorating market sentiment: Affected by the trade war, global stock markets plummeted, the fear index (VIX) surged, and investors' risk-averse sentiment intensified, resulting in funds withdrawing from high-risk assets such as cryptocurrencies.
3. Liquidation of leveraged trades: The drop in Bitcoin prices triggered a large number of leveraged long positions to be liquidated. Data shows that approximately 446,500 people were liquidated within 24 hours, with a total amount reaching $1.381 billion, further exacerbating the selling pressure in the market.
As of now, the price of Bitcoin is approximately $76,000, and the price of Ethereum is approximately $1,488, both showing a significant decline compared to the previous trading day.
