The world is plunging into a liquidity crisis. The stock market under Trump's tariffs is approaching a three-day drop exceeding anything observed during Covid, the financial crisis, or any other period after World War II, except for the crash of 1987.
At the moment, altcoins are extremely complicated, as liquidity dispersion in the market has become most pronounced. The majority of liquidity and volume is now concentrated in the Top 30 assets.
Digital currencies are suffering losses alongside stock markets. Almost all short-term BTC holders are now at a loss, which constitutes over 25% of the Bitcoin supply. This is a significant portion of the circulating supply that is in the negative. While this may seem alarming, it is not unprecedented. Similar downturns occurred four times in 2024.
The area around $69,000 is critical, as here 1.22 million addresses have historically acquired more than 464 thousand. $BTC .
