Bitcoin once fell by 13%! The currency circle experienced a "historic level" of bursting! Over 70 billion in one hour, and a total of 191 billion US dollars were closed out throughout the day.

On Friday, the cryptocurrency market saw a significant decline due to the threat of Trump's tariffs, with the stock market accelerating its plunge after hours and increasing losses. The latest sell-off of cryptocurrencies is the largest since at least early April this year. The world's largest cryptocurrency, Bitcoin, fell by 13.5% within the day, falling below the $110,000 mark to a low of $105,930. Bitcoin later narrowed its losses and traded around $113,000 later on Friday evening Eastern Time. Earlier this week, Bitcoin hit a record high of over $126,250. The US government shutdown prompted investors to flock to Bitcoin and gold for "devaluation trades." At the same time, increased options market bets drove Bitcoin to record highs. On Friday, smaller and less liquid tokens were hit harder. Ethereum plummeted by over 17%, while Ripple and Dogecoin fell by over 30%. According to the latest data from Coinglass, the total liquidation in the past 24 hours has reached $19.141 billion, once again breaking the historical record and marking the largest forced liquidation wave since early April this year. A total of 1,621,284 people worldwide have been liquidated, with long liquidations totaling $16.686 billion and short liquidations totaling $2.455 billion. The largest liquidation occurred in the ETH-USDT contract trading pair on the Hyperliquid platform, worth $203 million. In terms of cryptocurrencies, Bitcoin liquidated $5.317 billion, Ethereum liquidated $4.378 billion, SOL liquidated $1.995 billion, HYPE liquidated $888 million, and XRP liquidated $699 million. During the New York market close on Friday, the CME Bitcoin futures BTC main contract fell by 5.94% from the Thursday close to below $116,000, and it continued to fluctuate downward from 22:57 Beijing time on Friday. It fell by 7.37% this week. From Monday to Thursday, it remained stable near $123,000, but on Friday it broke the dull trading status and significantly declined. The CME Ethereum futures DCR main contract plummeted by 11.29% on Friday to $3879, with a cumulative decline of 14.80% this week. After the US stock market fell to $3500 after Friday's close, it continued to decline from Tuesday to Friday. Some industry insiders pointed out that the market's uncertainty led to a sharp drop in risky assets, and the demand for downside protection in the derivatives market surged. The dynamics of the options market may have a greater impact on the price trend of the underlying market than ever before. This article is reprinted from Wall Street View by author He Hao; GMTEight editor: Wenwen.