#Gate广场四月发帖挑战 The peace talks completely collapse! War flares up again in the Middle East; BTC plunges by over 2%, 100,000 liquidations, and the crypto market rocks violently!

【Breaking: U.S.-Iran negotiations fail, a geopolitical storm hits】
At 4:12 local time on April 12, after 21 hours of intensive negotiations, the third round of high-level talks between the U.S. and Iran in Islamabad announced a breakdown, as both delegations left one after another.
The U.S. proposed harsh terms such as “jointly managing the Strait of Hormuz, restricting nuclear programs,” which Iran categorically rejected, and Vance said directly that “the differences are huge.” Risk-averse sentiment in the Middle East spikes instantly, and global risk assets plunge across the board.
【Today’s Market: BTC crashes, ETH follows down, total liquidations across the whole network reach $283 million】
• BTC: After surging to 73,773, it quickly dropped; the lowest touched was $71,355; the 24h decline is over 2%
• ETH: Weakens in sync; breaks below $2,300; the 24h decline is over 1%
• Market data: In the past 24 hours, more than 100,000 traders were liquidated across the whole network, with a total amount of $283 million
• Sentiment: The Fear & Greed Index falls to 20 (extreme fear), as funds rush to safety
【Big V Views: Pigeon & Vivian’s latest interpretation】
• Pigeon: The failure of the peace talks directly ignites the short side; 73,500-74,000 becomes a strong overhead pressure. Until BTC holds above 74,000, beware of a second pullback toward the 68,000-70,000 range; short-term mainly focus on selling high and buying low, and don’t chase rallies or cut at a loss in a panic.
• Vivian: Stagnation at high levels + a pullback on bearish candles; bullish momentum is exhausted. ETH’s key support is 2,250-2,280; if it breaks, watch 2,200-2,220. Resistance is 2,330-2,350-2,376; rebound and sell high is the main approach
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【Technical structure and on-chain funds】
• BTC: The 4-hour chart breaks below the rising trendline; the Bollinger Bands tighten; range-bound with a bearish tilt. Exchange net outflows intensify, with retail bottom-fishing and large holders reducing positions.
• ETH: The Cancun upgrade is approaching, but near-term pressure remains; repeated contention at the 2,300 level. Layer 2 funds are diverted, and correlation with BTC weakness is evident.
【Key levels (4.12)】
• BTC: Resistance 73,500-73,773-74,000; Support 72,000-71,300-70,500
• ETH: Resistance 2,350-2,376-2,400; Support 2,280-2,250-2,200
【One-sentence summary】
Failure of the peace talks sparks geopolitical risk; BTC plunges from high levels and enters an adjustment cycle. In the short term, strictly control position size and move fast in and out. If it breaks below 72,000, look further down to 68,500; if it holds above 72,500, look for range-bound repair.