Tap to Trade in Gate Square, Win up to 50 GT & Merch!
Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
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https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
, over $950 million in liquidations in 24 hours, heavy forced liquidations in the futures market.
II. Key Drivers and Technical Analysis
• Core Trigger: US Treasury Secretary's statement of no market intervention, combined with simultaneous plunge in US stocks and precious metals, sharply reduced risk appetite, and intensified leverage liquidations.
• Technical Pattern: Daily candles showing continuous decline, far from moving averages; 4-hour chart in a downtrend channel, RSI oversold but lacking volume support, indicating a continuation of the downtrend rather than a reversal.
• Support/Resistance: Short-term support at $1700-$1800, strong support at $1665 (a key platform in 2024); resistance at $1900, $2000, and $2150, with selling pressure likely on rebounds.