New liquidation pressure is returning to the market…
1️⃣ BTC continues to fall, sentiment plunges into extreme fear.
BTC is gradually declining and is currently hovering around the $66,000 mark.
The Fear & Greed Index dropped to 9 points — the "extreme fear" zone.
When sentiment is at this level, volatility usually increases sharply.
The big question is: is this the final sell-off before a recovery, or just a mid-cycle risk-off?
The market is waiting for an answer.
2️⃣ ETH hovers around $1,940, whales still using high leverage.
$ETH is currently trading near $1,940 .
The well-known leveraged trading account “Machi Big Brother” continues to open more Longing positions with 25x leverage , despite:
Large unrealized losses
Only about 1% away from liquidation.
In terms of risk management, this is a "win big or lose everything" type of gamble:
If the market rebounds strongly, it could trigger a Short squeeze.
If prices fall further, it could easily become fuel for a new wave of liquidations.
3️⃣ Precious metals also plummeted sharply.
Not only crypto, but traditional safe-haven assets also fell sharply:
Gold fell 3.76% (losing approximately $1.34 trillion in Capital ).
Silver fell 8.5% (losing approximately $400 billion).
When both crypto and safe-haven assets decline, this typically reflects a broader liquidation crunch , rather than a rotation of funds between asset classes.
4️⃣ Controversy surrounding Trove Markets
Reports suggest that some KOLs received separate refunds after the price crash, while ICO investors suffered the full losses.
If that's the case, the question is:
Transparency in governance
Responsibility to investors
Information fairness
Market confidence could be affected if the incident is confirmed.
5️⃣ US stocks are under pressure.
Approximately $1 trillion in market Capital was wiped out from the US market.
S&P 500 ↓ 1%
Nasdaq 100 falls by more than 1.6%
Amid macroeconomic tensions, risky assets continue to move in the same direction.
6️⃣ Binance CEO Announces Portfolio
Binance CEO He Yi reportedly has the largest allocation in BNB, alongside a few smaller altcoins like KITE and FF.
In a market heavily reliant on sentiment:
What assets are held by insiders?
What is the proportion?
…all of these can affect the confidence of individual investors.
7️⃣ Coinbase's business results for 2025
Net loss in Q4: $667 million
The year continued to show positive performance.
The business demonstrates stable operational capabilities, but revenue is shrinking due to market cycles.
8️⃣ CZ's perspective
CZ stated:
CEX and DEX will coexist in the long term.
Global crypto penetration remains below 1%.
In terms of long-term structure: there is still plenty of room for growth.
In the short term: volatility continues to dominate the market.
In short, liquidation is contracting on multiple fronts. When crypto, precious metals, and stocks all decline, you should closely monitor systemic risk rather than looking at individual assets.
