Market recap: Geopolitical conflicts trigger "Black Sunday"

Affected by the rupture of US-Iran negotiations and the Strait of Hormuz blockade, the cryptocurrency market experienced a collective sell-off dominated by risk aversion today.

Price overview: BTC down approximately 3.4% in 24 hours, briefly falling below $70,600; ETH and SOL declined over 4%, at $2,190 and $81 respectively. The market panic index dropped to 16 (extreme panic).

Liquidation data: Approximately $281 million in total liquidations over 24 hours across the network, involving over 146,000 people. Long positions suffered heavy losses, with long liquidations accounting for 72%.

Macro and regulation: US legislation enters a "life-and-death window"

Geopolitical game: US-Iran negotiations ended without result, US military announced the blockade of Iranian ports, leading to a surge in oil prices and the sell-off of risk assets (including crypto assets). The market is closely watching the defense of the key support level at $70,500.

Policy game: The US "Clarity Act" for digital asset markets has entered a critical legislative phase. If there is no progress in the Senate in the next five weeks, the bill may die "abortion" due to midterm elections. #Gate广场四月发帖挑战

Technology and ecology: Cross-chain bridge exposes security vulnerability

Security alert: Polkadot's Hyperbridge cross-chain bridge has a vulnerability and has been suspended. The official statement says it only affects DOT assets bridged to Ethereum, with the mainnet native assets remaining secure.

Institutional movements: Despite the price decline, US spot Bitcoin ETF recorded a net inflow of about $786 million last week (BlackRock's IBIT led the investment), indicating that institutional buying interest remains at lower prices.

⚠️ Risk warning: The current market leverage remains high, combined with geopolitical uncertainties, short-term volatility risks are extremely high. Please strictly control your positions and do not blindly buy the dip.