The crypto market plunged again at midnight today, with Bitcoin briefly dropping to 0.0925 million dollars, setting a new low for this year, while Ethereum almost fell below 3,200 dollars. The total liquidation amount for contracts in the last 24 hours reached 0.57 billion dollars, affecting over 0.212 million people.

Around 1:30 AM today (9th), Bitcoin rapidly dropped to 92,500 dollars, marking its lowest record since 2025. However, it seems to have reached the bears' Target Price, as Bitcoin subsequently began to rebound, reporting 95,120 dollars before the deadline, with the drop in the last 24 hours shrinking to 1.84%.

If it can continue to oscillate around 95,000 dollars for some time and then move upward, the 0.098 million dollars is speculated to be the stop-loss point for many bears, and it is presumed that they might be targeted for liquidation.

According to a report from DongZone yesterday, Bitcoin's significant recent correction has entered a potential 'head and shoulders' pattern. Currently, the neck line Resistance for Bitcoin is approximately 0.0915 million dollars. If the price falls below this level, it may confirm the 'head and shoulders' pattern, triggering a technical sell-off, with the Target Price potentially dropping to 0.075 million dollars.

Ethereum is holding strong at 3200 dollars.

At the same time, Ethereum briefly dipped to 3208 dollars, but rebounded to 3342 dollars before the deadline, with a decline of 1.61% in the last 24 hours.

The liquidation amount in the last 24 hours is 0.57 billion dollars.

On the other hand, according to Coinglass data, the total liquidation amount in the crypto market over the past 24 hours reached 0.574 billion dollars, with long positions liquidated amounting to 0.438 billion dollars, leading the total, while short positions liquidated at 0.136 billion dollars, affecting over 0.212 million people.

The crypto financial service platform Matrixport published a report yesterday on the social platform X, stating that with Trump taking office, global liquidity measured in US dollars is starting to tighten, and Bitcoin may enter a consolidation phase.

Fluctuations in global liquidity may put some pressure on Bitcoin. Historical data shows that changes in liquidity usually precede Bitcoin price movements by about 13 weeks. With the strengthening of the US dollar after Trump took office, global liquidity measured in US dollars is starting to tighten, suggesting that Bitcoin may enter consolidation in the near future.

However, Matrixport also added that this consolidation may be short-lived, as Bitcoin still demonstrates positive long-term potential in the long run.