Core Insights - The cryptocurrency market is experiencing a significant downturn, with a notable withdrawal of funds from major investment funds, ETFs, and corporate treasuries, leading to a new period of market vulnerability [2] - Negative sentiment is dominating the cryptocurrency market, with a sharp increase in negative discussions surrounding Bitcoin, Ethereum, and XRP, resulting in a substantial decline in investor confidence [2] Group 1: Market Performance - In the past 24 hours, approximately 160,000 individuals in the cryptocurrency market faced liquidation, totaling $580 million, with long positions accounting for $410 million and short positions for $170 million [1] - Bitcoin has fallen below the critical $100,000 milestone, driven significantly by the selling activities of "whales" (individuals holding over 1,000 Bitcoins) and long-term holders [4] Group 2: Investor Behavior - Long-term Bitcoin holders have sold approximately 815,000 Bitcoins in the past 30 days, marking the highest selling activity since early 2024 [5] - Whales holding Bitcoin for over seven years are selling at a rate exceeding 1,000 Bitcoins per hour, indicating a sustained and staggered distribution rather than a sudden coordinated sell-off [5] - Many early holders view the $100,000 mark as a psychological threshold for profit-taking, which has accelerated selling since Bitcoin first surpassed this level in December 2024 [5]