The crypto market really took a nosedive today! 😅 Let me break down what happened:

1. The market is kind of crashing:
Bitcoin plunged straight below $90,000, dragging other major coins down with it. Market sentiment is pretty cold, and a lot of money is flowing out (BTC alone saw outflows of about $220 million).

2. The futures market is brutal:
Prices are swinging wildly, causing over 130,000 people to get liquidated. The total amount liquidated across the network in one day exceeded $425 million. Those playing high-leverage futures probably had a rough time today.

3. Not everything is in the red:
Amid all the red (declines), there are a few “standouts” that are up, like TRX, LUNC, and PEPE, which even saw some slight capital inflows. They’re the tallest among the short ones, so to speak.

4. Why the drop? Probably related to these two things:
The US just released new inflation data, and the market is digesting it.
Yesterday, seven major financial industry associations in China jointly issued another risk warning, once again emphasizing the risks of virtual currency speculation. This news may have also affected market sentiment.

Today, the market is all about “crashing hard” and “risk-off” mode. Bitcoin failing to hold the $90,000 mark is a key signal, triggering a chain reaction of declines. $1000LUNC $1000PEPE