Cryptocurrency market evaporates 330 billion yuan in a single day, with over 114,000 people liquidated.

Bitcoin continued its decline on Tuesday, with a drop of over 3.5% in 24 hours, and briefly falling below the crucial support level of $63,000. At the same time, other major cryptocurrencies also experienced a collective decline, with Ethereum falling below $1,900. Over the past 24 hours, the overall cryptocurrency market has dropped by over 2%, with the total market value dropping to $2.25 trillion at one point, resulting in a loss of over $48 billion. The number of liquidations in the past 24 hours exceeded 114,000 at one point. Under the dual pressures of escalating trade tensions and expanding geopolitical risks, market risk sentiment has weakened, leading to a withdrawal of funds from high-volatility assets, which has become a major drag. Analysts believe that the critical support level of $60,000 for Bitcoin is closely watched, and if breached, could open the path to the $50,000 range.