Bitcoin pins fell below 95,000, Ethereum almost broke $2,600 interpretation

The cryptocurrency market fluctuated violently yesterday, with both Bitcoin and Ethereum falling, triggering large-scale contract liquidation. News of the Bybit exchange being hacked and the decline in U.S. stocks after the opening have all exacerbated market volatility.

The price of Bitcoin has been falling from yesterday's high of $99,475, and once reached $94,871, a drop of 4.7%, and has rebounded to $96,240, with a 24-hour decline of 1.98%.

Ethereum suffered a sharp drop

Ethereum was also affected, falling from its high of $2845.32 to $2616.72, a short-term decline of 8.1%, almost falling below the $2600 mark. The current price is US$2,683, with a 24-hour decline of 1.81%.

The entire network contract liquidation exceeded US$569 million

Coinglass data shows that in the past 24 hours, the amount of liquidated shares in the entire cryptocurrency market exceeded US$569 million, and more than 173,000 people were liquidated. The amount of liquidation between the bulls and bears is equal, which may be related to the sharp fluctuations in the market.

The US stock market generally fell

The US stock market also performed sluggishly, with the four major indexes falling across the board. Technology stocks have generally suffered setbacks. Except for Apple, the other "technology Seven" fell by more than 1%, while Nvidia and Tesla fell by 4.05% and 4.68% respectively. The specific data are as follows:

• Dow Jones Index: 748.63 points (1.69%) and closed at 43,428.02 points
• Nasdaq Index: 438.35 points (2.20%) and closed at 19,524.01 points
• S&P 500: 104.39 points (1.71%) and closed at 6,013.13 points
• Philadelphia Semiconductor Index: 174.03 points (3.28%) to close at 5,136.59 points

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