According to ChainCatcher, glassnode's latest report indicates that the announcement of U.S. tariffs has caused significant impacts on major financial markets, with multiple markets recording their most dismal trading records since March 2020. The capital inflow of mainstream digital assets has stalled, leading to a significant contraction in liquidity and creating a strong headwind.
However, it is worth noting that the scale of sell-offs during price dips for Bitcoin and Ethereum has shown a decreasing trend, which may suggest that short-term selling pressure is approaching exhaustion. This round of digital asset plunge presents a widespread decline, with the total market capitalization of Altcoins shrinking from $1 trillion in December 2024 to $583 billion currently.
On-chain data and resonance analysis of technical models show that $93,000 is a critical psychological level - Bitcoin must reclaim this price to rebuild upward momentum. On the downside, the range between $65,000 and $71,000 remains an important defensive line that bulls must hold.
