Market Analysis:

On the early morning of February 6th, the global markets crashed overnight! BTC plummeted over 12%, dropping to $59,902, hitting a 16-month low! ETH was hit hard, falling more than 15% to $1,740! Nearly 589,000 traders were liquidated, blood flowing in the streets!

The Deadly Truth Behind the Crash:

1. The US stock market continues to collapse, with the Nasdaq down 1.59%. Tech stocks broadly decline, global risk assets are being sold off wildly, and cryptocurrencies have become the main target of the sell-off. Coupled with the panic from the previous days' continuous decline, this triggered a new round of sharp drops overnight;

2. The probability of a Fed rate cut is only 9.9%, with hawkish signals dominating, liquidity tightening remains unresolved;

3. 589,000 liquidations totaling $2.704 billion, long positions wiped out in a bloodbath, with the death spiral continuing to ferment;

4. Industry leaders collectively turn bearish, Bitcoin officially enters a bear market, and confidence has completely collapsed;

5. Institutional exits + liquidity drying up, ETF redemptions continue, with no buy-side support, causing prices to free-fall.

Operational Advice:

Do not attempt shorting or bottom-fishing, and pause all trading activities!

Special Reminder:

Hold cash! Save your life!