#比特币波动性 Bitcoin nearly broke the $100,000 mark this morning — reaching 98,000 before quickly plummeting, leaving many people stunned. The more exciting news follows: the SEC suddenly pressed the pause button, directly halting the approval process for three crypto assets ETFs.

Meanwhile, the Ethereum Layer 2 side is also in turmoil. Not only did the daily settlement amount hit a record, but the Gas fees skyrocketed by 5 times, and the network congestion makes one question life itself. On the other hand, there’s a heavy news — a certain country's central bank announced the purchase of 30,000 tons of Bitcoin, which accounts for 1.4% of the total supply. The signal of institutional entry is already quite obvious.

The on-chain activity is also significant. A mysterious large holder has continuously transferred 120,000 $BTC; such a large adjustment is likely a sign of institutions repositioning. However, risk signals are also flashing: the overall network leverage ratio is approaching a danger zone, with analysts stating that the probability of a black swan event exceeds seventy percent. The DeFi ecosystem is even less optimistic, with TVL shrinking by 12 billion dollars in a week, and liquidity on multiple chains has turned red.

In terms of market sentiment, several major trading platforms have seen unusually large orders, with the USDT premium rate dropping to -2.3%. The put-to-call ratio in the options market has also crossed the warning line. In the past 24 hours, the liquidation amount reached 1.86 billion dollars, and the fear and greed index has fallen to 27 - firmly in the extreme fear zone. $BTC currently holds a market share of 52.8%, and there is also considerable pressure on $ETH.

At times like this, you really need to stay calm and not act impulsively.