"Bloodbath Night" Bitcoin dips to 75,000, hitting a ten-month low, Ethereum falls below $2,500, with over 420,000 traders suffering liquidation.

Bitcoin drops back into the $70,000 range after nearly 300 days, with the total crypto market capitalization evaporating by $180 billion in a single day, over 426,000 liquidations, and the market still in the “deep demand testing” phase.
(Background recap: JPMorgan successfully predicts “Gold and Silver Double Kill”: Gold and silver overheating, Bitcoin oversold! But the long-term gold price still targets $8,500)
(Additional context: Gold and silver crash together! Silver plunges 20% in one day, gold drops 8%, is the precious metals bull market coming to an end?)

Last night (31st) was another sleepless night. Within just 12 hours, the crypto market experienced another “waterfall” decline, with Bitcoin falling back into the $70,000 range after nearly 300 days. High leverage positions triggered a chain reaction of liquidations, causing a “death spiral.” After BTC broke through the critical $80,000 support level, a large number of automatic stop-loss sell orders were triggered, further accelerating the downward price movement.

Today (1st) at midnight, the lowest point touched $75,678, the lowest since April 2025. It temporarily rebounded back above $78,000, with the 24-hour decline narrowing to 6.3%.

According to Coinglass data, this crash wiped out nearly $180 billion in market value. Over the past 24 hours, more than 426,000 investors were liquidated, with the largest single liquidation order occurring on Hyperliquid’s ETH-USD (worth $220 million).

Altcoins also suffered heavy losses: SOL briefly fell below $100, BNB dropped below $800, and the top ten altcoins all declined by 5~10% (Tron was an exception with a smaller decline compared to Bitcoin).

Multiple Pressures Resonating

Last night’s decline occurred during a weekend with lower liquidity, and there were no clear negative news, but multiple underlying pressures were present, potentially amplifying investor panic, including:

• President Trump deploying warships to the Middle East amid worsening US-Iran relations, increasing geopolitical risks
• The precious metals market just experienced a bloodbath, but crypto markets showed resilience, with bulls increasing positions only to be sniped
• Bitcoin spot ETF net outflows, which even a weakening dollar couldn’t boost Bitcoin’s value…

Currently, the market remains in the “deep demand testing” phase. Investors are closely watching whether the $76,000 level (average cost basis from Strategy) can hold as support. As highly leveraged speculators are washed out, selling pressure gradually diminishes, and whether institutions or whales will step in to buy the dip and drive prices back up remains to be seen.

However, in a market full of uncertainties, maintaining cash flow and risk management is always key to survival.