This recent wave of market行情真的绝了. Before the non-farm payroll data was released, the crypto market was like hitting the pause button—both bulls and bears were just staring blankly. BTC repeatedly hovered around $92,000, ETH also swung around $3,180, and trading volume dried up completely. Guess what happened? Suddenly, in the afternoon, a sharp sell-off broke through the calm of the morning with fierce force.

The specific data is as follows: BTC once dropped to $90,500, just shy of the psychological threshold of $90,000. ETH was even more aggressive, plunging directly from $3,180 to the $3,100 support level. In a short period, nearly 120,000 traders were liquidated across the entire market, and signs of capital fleeing became even more obvious. Although there was a slight rebound at the end of the session, the rebound was weak—more like exhausted bears taking a breather, with no indication of a bullish reversal.

Why did this happen? The key reason is the convergence of several pressures. Recently, the internal "hawk-dove" debate at the Federal Reserve has been intense. On one side, dovish signals are released from cooling employment data; on the other, they have to face sticky inflation issues. This uncertainty directly weighs on the market—investors simply can't gauge the Fed's true stance and can only follow the trend of selling off to cash out risks. Coupled with inconsistent global macroeconomic data and fluctuating market expectations, short-term funds dare not hold long-term positions. This decline is less a technical correction and more a collective reassessment of risk assets.