As the tariff expectations rumors emerged, the market reaction was very direct. The early morning drop directly fell by 3.79%. The decline doesn't seem particularly large, but the problem is—there was no technical resistance at all.

The range from 935 to 940 was originally a key support level, and logically, it should have held. But what happened? It was directly broken through. This is quite interesting. Generally speaking, such important levels are not easily broken, and when they are, there’s usually some underlying force pushing it. This time, it was clearly driven by macro sentiment shocks.

From a technical perspective, this decisive break often indicates that the bulls' defense was somewhat hasty. Maybe they were caught off guard by the black swan of tariffs, or perhaps some large funds were adjusting their positions. In any case, once an important support is broken, the next trend needs to be reassessed. Is there any new support below this level for the crypto market? That’s what we need to focus on next.