The total market capitalization of the current crypto market is $2.38 trillion, appearing stable but actually bubbling with underlying currents! Bitcoin is stuck around the $70,000 mark, down over 40% from its March high; Ethereum is barely up 1.87%, and smaller coins are even more dire (altcoin season index only 41).

Root causes of panic:

Geopolitical conflicts + inflation anxiety: Middle East conflicts pushing oil prices higher, FOMC meeting approaching, risk-averse sentiment exploding;

Leverage liquidations + security incidents: Long positions wiped out, wallets hacked, market confidence further shaken;

Fear & Greed Index at 18: Extreme fear dominates, funds are fleeing to BTC as a “safe haven.”

In the short term, the market may continue to bottom out, and a rebound will require clearer policies or institutional buy signals! Are you still in the game?