The cryptocurrency market was quite turbulent last night, with not only the top three cryptocurrency exchanges, Bybit, being hacked, but the volatility in the US stock market also indirectly affecting the cryptocurrency market. After the US stock market opened, Bitcoin fell from last night's high of $99,475 and dropped to $94,871 in the early hours of the morning, a short-term decline of 4.7%.

As of now, Bitcoin is trading at $96,240, a decline of 1.98% in the past 24 hours.

Ethereum Risks Breaking 2600 USD

The performance of Ethereum is similar to that of Bitcoin, falling from last night's high of $2,845.32 to a low of $2,616.72, a short-term decline of 8.1%, nearly breaking below $2,600. As of now, Ethereum is trading at $2,683, down 1.81% in the past 24 hours.

173,000 Contracts Liquidated Across the Network for 569 Million USDT

According to data from Coinglass, over the past 24 hours, the total amount of cryptocurrency liquidations across the network exceeded $569 million, with long positions accounting for $326 million and short positions accounting for $242 million, involving more than 173,000 people.

The reason for the large amount of long and short contract liquidations may be due to the rapid rise and fall of the market.

Major US Stock Indices Decline

In the US stock market, the four major indices declined yesterday, and technology stocks also generally showed a downward trend. Among the Big Tech companies, except for Apple, the rest fell by more than 1%, with NVIDIA and Tesla falling by 4.05% and 4.68% respectively:

• The Dow Jones Industrial Average fell 748.63 points, or 1.69%, to 43,428.02 points
• The Nasdaq Composite fell 438.35 points, or 2.20%, to 19,524.01 points
• The S&P 500 Index fell 104.39 points, or 1.71%, to 6,013.13 points
• The Philadelphia Semiconductor Index fell 174.03 points, or 3.28%, to 5,136.59 points