#加密货币市场行情 Today's market experienced intense volatility, with BTC briefly dropping below $84,000 and a 24-hour decline of over 8%, causing the total crypto market capitalization to fall below $3 trillion. On-chain data shows that in the past 24 hours, the entire network experienced liquidations totaling $974 million, including $851 million from long positions, with over 260,000 traders liquidated. Analysts believe that this sharp decline was mainly triggered by expectations of a rate hike by the Bank of Japan and concerns over a potential "爆雷" (major failure) of Strategy. The yen exchange rate fluctuations suggest that the Bank of Japan's stance is hawkish, tightening global liquidity expectations. Meanwhile, Strategy announced the establishment of a $1.44 billion reserve fund to alleviate market concerns. Currently, the macro environment remains unfavorable, with short-term rate cut expectations fading, stubborn inflation, rising geopolitical risks, which may lead institutional investors to reduce risk appetite. It is recommended to closely monitor the Federal Reserve meeting and inflation data, operate cautiously, and implement proper risk management.