As of 3:50 pm on February 25, 2025, the cryptocurrency market has experienced a dramatic fluctuation. According to the Binance spot market, the price of Bitcoin has dropped by about $1,500 in a short period of time, briefly falling below $89,000, while Ethereum has fallen below $2,400, reaching a new low since February 3.

Within the past hour, the total liquidation amount in the cryptocurrency market has exceeded $450 million, indicating an extremely volatile market sentiment.

The news of the Montana House of Representatives rejecting the "Strategic Bitcoin Reserve" bill may have exacerbated the downward pressure on the market, leading to a synchronized bloodbath in Bitcoin and other cryptocurrencies.

Currently, the cryptocurrency investment community has divergent views on this downward trend, with some believing it is a short-term adjustment, while others are concerned that it may be the beginning of a larger decline. The subsequent market trend still needs to be closely monitored.